7.14 Morning BTC short-selling idea

Entry: short at 62,700 - 63,200
Stop-loss (defense): above 63,700
First target: 62,000 - 61,800
Second target: around 61,000

BTC yesterday surged to a high of 64,411 and then, after that, incremental long-side funds directly dried up. A large number of long positions got liquidated and exited in bulk. At higher levels, there is a massive pile of trapped liquidity. The zone 62,700 - 63,200 on top is the key heavy-pressure range of this rebound. As long as price rebounds into this area, it will face concentrated sell pressure from both take-profit orders and trapped holders’ sell-off.

From the 15-minute cycle, the overall downward trend has not been reversed. Moving averages continue pointing down, strongly suppressing the price action. This current small rebound is only a rebound-and-correction after a big selloff. The market has repeatedly tested the upper resistance but failed to stand firm for a breakout. Bullish K-line upside momentum keeps fading. In the short term, bullish momentum has basically been fully consumed. Without any incremental capital to step in and prop up the market, it’s hard for the rebound to continue strengthening. Once price can’t gain volume and gets burdened, it will likely turn back down again.

On the daily timeframe, after a period of consecutive rallies, indicators are already severely overbought and the long-side upside momentum has been completely exhausted. This push to the highs is basically just the wrap-up of a bull trap. After that, the market is set to enter a deep pullback cycle. Price remains under the moving averages under pressure, and the bear-led structure has not flipped. Unless large funds come in to pull the price up aggressively, it will be difficult to break the previous high again and open up further upside space. This pullback has plenty of room downward. The current expanded entry placement range and take-profit/stop-loss levels increase the tolerance for holding positions. Today’s core trading plan is to follow the trend: rebound and short as the main strategy. Build short positions in batches, relying on the upper pressure band. Continue the down-leg swing of this current pullback cycle. Once the 61,800 support below is broken effectively, the bearish downside room will be fully opened. $BTC #百万充值补贴