$BTC July 14 boss: all-day market recap

Looking back at today’s BTC overall trend, a long-dominant momentum ran through the entire day. Multiple intraday dips to shake out positions failed to break support, and every pullback was an opportunity.
Today’s open continued yesterday’s weak selloff, dipping to a low of 618. Supported by the prior key support at 615, price stopped falling and stabilized, with strong buying follow-through. Then a sustained rebound began. During the day, price moved in a range and trended upward, repeatedly tug-of-warring in the 628 area. Many people were misled by short-term consolidation and cut losses/left the market by going short blindly.
In the evening, the major CPI data came in. All inflation components were far below expectations, delivering a powerful positive catalyst to the market. Bulls immediately kicked off a one-way rally, with highs breaking consecutively: 629→639→645→649. The first target level of 645 given in advance in the morning was hit precisely. After the rally pushed to 649, there was an additional 400 points of profit room.
From a technical perspective, on the hourly chart the Bollinger Bands price has already broken above the upper band. Even if there is a pullback, as long as it doesn’t break the key support, upside momentum will keep being released. In the evening, supported by macro positives, price broke through multiple resistance levels, fully opening the bullish structure.