7.13 Morning BTC analysis

Analysis: BTC rebounds around 638-643 to set a cage/box (箜), look at 630-625, defend 648

BTC surged to a high and at the 644 level marked a prior high point; it closed with a long upper wick and a big bearish candle. In the moment it pushed higher, the long positions’ capital “bullish” (Zijin) concentrated and exited. At the high, a large amount of trapped positions formed; afterward, every rebound will trigger trapped-position sell pressure as holders try to get out, naturally suppressing upside space, making it hard to effectively break above the previous high. The prior bullish structure of a range-bound uptrend was directly smashed through by this one big bearish candle. After breaking the bottom of the consolidation range, it then moved into continuous decline. The trend shifted from range-bound bullish to range-bound slightly weak bearish. The market’s overall direction turned to selling on rebounds, rather than buying on dips; following this, the risk/reward for shorting is far higher than for counter-trend going long #GateUS合规扩展佛罗里达 $BTC ‌