7.16 Jack 4-hour big pie chart analysis

From the 4-hour chart trend, the prior high of 65589 faced clear resistance. After pushing up, the price continued to fall steadily, and the overall long-term downtrend has already been established. During the session, it dipped to the low of 64362; after a brief oversold rebound, it only bounced slightly back to around 64580. On the right-side order book, you can see that a large amount of sell orders and sell-pressure are stacked around 64590–64600, and the upside push faces strong resistance. In terms of indicators, they keep weakening; the short-term minor rebound is merely a corrective move within the broader decline. The overhead pressure remains heavy—don’t mistake the brief rise for a reversal.

Trading suggestion: Short
Trading range: 65000-66000
First target: 64000
Second target: 63000#币圈#