7.15 Wednesday BTC afternoon outlook

July 15, Bitcoin continued the bullish repair from yesterday’s CPI-positive catalyst. During the day, it stayed stable in the $64,300–$65,260 range, with a cumulative 24-hour gain of over 4.6%. Throughout the session, there were multiple probes of the $65,000 key psychological level. A squeeze caused by short-term shorts closing in a concentrated manner has continued to intensify. The market’s overall risk appetite has notably rebounded. Total daily trading volume remained at a high level of around $31 billion. Funds are mainly waiting for the upcoming U.S. PPI data and remarks from Federal Reserve officials to confirm whether the easing expectations can continue.

From a technical perspective, after yesterday’s CPI-positive news took effect, price has repeatedly broken through multiple short-term moving average resistance zones. Today, supported by the $64,000 level, it has climbed steadily higher, and bullish momentum remains ample. The first major near-term resistance is $64,980–$65,000—this is the dense liquidity/positioning zone for this round of rebound. Only if price increases in volume and holds above it can it further challenge the $65,800 mid-term strong resistance. On the downside, short-term support has also shifted up to $63,500, while the line in the sand between bulls and bears is at $62,600. As long as this range is not broken down decisively, the rebound trend will not be damaged. The daily Bollinger Bands are widening upward, MACD’s golden cross continues to spread, and the short-term bullish structure is intact; however, because there is a large amount of supply from prior bagholders around the $65,000 level, a choppy washout is likely in the near term, making a direct one-way breakout difficult.

Trading suggestion: 650–655 watch chasm, target 640–635$BTC $ETH $SOL