7.16 early morning thoughts

BTC’s pull-up this week, starting from a low level, is only a technical fix/repair of the “market situation.” The short-term upside has already been overextended; the next key resistance is close at hand. The “fish head” does not have enough funds to keep the relay going. Early in the morning, you should focus on the scenario of a big spike followed by a pullback.

Although the 4-hour chart has kept going and has held support with consecutive bullish candles, the subsequent rise has not been supported by a sustained increase in trading volume. At the moment, there is no signal of a trend reversal; the overall weekly trend is still relatively weak, and the risk of this leg of pullback under pressure is significant.

BTC pullback around 66,100–66,600, with targets to watch at 64,700–64,200.
ETH pullback around 1,960–2,000, with targets to watch at 1,900–1,860.

$BTC $ETH #美国核心CPI未达预期