7/14 BTC morning outlook

Yesterday’s market continued to weaken. Most of the previous rebound gains have been given back. Current price has fallen back to the 62,000 level. Recently, the market has been repeating a pattern of rangebound consolidation and washing. The daily chart has retraced to test support at the middle band of the Bollinger Bands. This level has been retested many times in history, and each time it held and rebounded. This time, it will most likely follow the same “stabilize and rebound” rhythm.

The current pullback hasn’t fully ended yet. There is no one-way move in the short term; it’s low-level rangebound accumulation. The downside support has been tested repeatedly without effectively breaking down. The bottom has strong support/absorption. For the near term, I still maintain a bullish outlook.

Key reminder: Around 62,000, don’t blindly chase shorts. Shorting at low levels can easily get you trapped. This range is more suitable for placing long orders on pullbacks. Even if support is briefly pierced slightly in the short term, the downside room is limited and a rebound can come at any time. After multiple retests that further solidify the bottom, it’s likely that the market will attempt to break through the previous high again.

Trading suggestions

BTC
Place shorts? (do what?) 62200–61700 do 哆, target around 63,000–63,500

ETH
1765–1750 do 哆, target 1,840
#伊朗宣布关闭霍尔木兹海峡 $BTC $ETH $SOL