7.14 Big Pie: After breaking below the support and hitting a new low, the rebound is only an opportunity from high up

$BTC
Entry: around 628-632; watch 635; look for 618-610

Overnight, it kept dropping from 644 to 618, directly piercing through the prior consolidation bottom. Now it’s rebounding and hovering around 625. First the conclusion: this is an oversold repair, not a reversal. The bearish trend hasn’t changed; the main idea remains selling rebounds from the highs.

The Bollinger Bands are opening downward and fully diverging. Price is tightly held down by the mid-band throughout. Each rebound meets resistance at the mid-band and then rolls over. Selling increases in volume during the drop, but rebounds come with reduced volume. After the bearish selling pressure is released in a concentrated way, the bulls’ ability to absorb is seriously insufficient. In the short term, all moving averages are in a bearish alignment, suppressing step by step, and there is heavy selling pressure overhead.

The key pivot point tonight is the US CPI data. Before the data lands, be sure to control your position size to avoid going all-in on a directional bet. After the news is released, follow the trend accordingly #沃什听证会撞上CPI