7.15 Morning Thoughts

In the early hours, the overall market fell into range-bound consolidation. Long and short momentum was roughly balanced, with no clear one-way trend yet. When price tested downside support, it quickly stopped falling and rebounded, but every rebound encountered selling pressure from above. The market continued to oscillate back and forth around the range midline.

From the short-term structure, the candlesticks frequently formed long upper wicks. There is a severe lack of momentum from chasing-buyers. Even after bullish moves were sparked by news catalysts, the upside follow-through remained weak, and bullish strength continued to decline.

Trading suggestion:

For BTC, the pressure zone at 65,300–65,000 has been rejecting rebounds and weighing on price. Consider setting up a short position in line with the trend. The downside target can be set at 63,800.