7.16 early morning analysis

After the price found a bottom support at 61,630, it staged a step-like continuous rebound. Multiple consecutive bullish candles with real bodies kept setting new local highs, completely reversing the prior choppy downward trend. In this rally, it surged to a new high of 65,550.5, then closed with a small pullback on the candle, without showing a strong top-forming signal from long upper wicks. However, overbought indicators suggest the room for one-way further rise is limited. The market will most likely shift into a high-range wide consolidation to digest accumulated longs. Fed Chair Powell is unwilling to get involved in crypto rescue; CaiTing Macro says the AI boom is driving inflation, and rate hikes are a matter of time. YiFan’s personal suggestion: if price bounces near 65,500-66,200, the target is around 64,400-63,800; otherwise, if it holds and stabilizes, then it may rise further. #BTC #ETH #BTC走势分析