A brief analysis of BTC’s short-term trend from the perspectives of Dow Theory, Chan Theory, Elliott Wave Theory, price-volume relationships, order flow, and price action (strategy suggestions)

$BTC ‌#btc Comprehensive assessment
Dow Theory indicates the main trend is still a deep decline, along with a signal that after July 13, a drop below the 62,404 key support has strengthened bearish momentum again; the short-term trend has entered an accelerated sell-off phase. Key levels are 62,500 (upper) and 61,500 (lower).
Chan Theory shows downward strokes have extremely strong force (-1,766), while upward strokes have very weak force (+251); currently, it is in an accelerated sell-off stage after breaking down the central range.
Elliott Wave Theory confirms that the ABC rebound has ended, and a new round of decline has started (-2,598).
The price-volume relationship shows a negative combination of “another crash with an increase in volume.”
Order flow shows POC at 64,131; price is far below the POC and is in a deep discount state, with Delta MA12 sharply turning negative.
Price action shows the “shooting star” + “high-volume bearish candle” + “panic selling” pattern; in the short term, bears completely dominate.

Short-term strategy suggestions:

Bullish scenario: If price shows a contraction in volume and stops falling plus a bottom fractal and Delta turning positive around 61,500–62,000, you can try a long. Targets: 62,500 → 63,000 → 63,500. Stop-loss: 61,000.

Bearish scenario: If price rebounds to around 62,500–63,000 and forms a top fractal along with increased volume sell-off, confirming the acceleration of the new round of decline, you can short. Targets: 61,500 → 60,500. Stop-loss: 63,500.

Current status: 62,062 is in the panic zone after the latest round of flash crash; bears completely dominate in the short term. It is recommended to wait for a breakout above 63,000 to confirm that a secondary high has formed before chasing longs, or wait for a breakdown below 61,500 to confirm that the next round of sell-off acceleration has started before chasing shorts.