$BTC July 14 Leader Market Analysis

Recap of yesterday’s overall bearish move: at the open, price first rebounded to the 644 high, then the bears pushed lower all the way. By midday, it directly dipped to 624. In the afternoon, there was a small rebound to 632, but it failed to hold, and in the evening the sell-off resumed, smashing down to 620. A brief rebound to 629 finished off the day.
Although yesterday’s overall trend was bearish, it was clearly stated in the morning that once the midline break occurs, the decline would continue. The market still followed the forecast—every down move came with a small rebound.
Today’s open continued the weak downtrend from last night. The market kept making new lows, dipping to a low of 618. It rebounded slightly to 623, then fell again. The current price is hovering around 621.
From the hourly chart Bollinger Bands, the channel has already opened downward, and in the short term price continues to be pressured against the lower band. Bear power still holds the upper hand.

Resistance: 630-645
Support: 600-585