$BTC July 13 Midday Market Analysis (No. 2)

In the morning, it first dipped to 1796, then a rapid rebound surged to 1846. It was only a few steps away from our 1850 target—key levels were hit successfully. However, the bulls simply couldn’t hold the high; once it failed to stabilize, it switched into a continuous selloff.
The market trended downward all the way, with the low pressing to 1773. It precisely stepped on the 1770 key support mentioned earlier that morning, and that support was effectively defended.
At present, the bears have already taken the lead, and price is moving along the lower band of the hourly Bollinger Bands. That said, there’s no need to completely dismiss the bulls—bullish momentum hasn’t been fully exhausted. After such a big drop, there will definitely be a technical pullback to repair.
In the short term, focus on rebound resistance around 1800.