7.14 Morning Bitcoin (BTC) Analysis

Analysis: Short around 62,700–63,200; first target 62,000; second target 61,000; defense at 63,700
The overall downtrend on the 15-minute timeframe has not changed. The medium- and long-term moving averages continue running downward, exerting strong pressure on the price. This rebound is only an oversold repair after a major sell-off, not a reversal signal. The market has repeatedly pushed upward toward the overhead pressure zone, but it has repeatedly failed to break through with sufficient volume. Signs of K-line candles rising and then falling keep increasing; the strength of the upside continues to weaken, and short-term bullish momentum is continuously being consumed. The bottom-fishing short-term profit-taking inside the market has been concentrated and taken off, and on top of that, the previously trapped chips above continue to steadily exit, forming double selling pressure. If, during the rebound phase, it cannot rally with volume and hold above the pressure zone, the short-side market will restart again. For the trading approach, the priority is to wait for the rebound to reach the pressure area and then set up short positions in line with the trend. On the downside, pay close attention to the support low at 61800; once there is an effective breakdown of that level, the room for further downside will open up.
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