7.16 BTC$BTC short setup

Entry: 64,900 - 65,300 short
Defensive stop-loss: around 65,600
First target: 64,400 - 64,000
Second target: 63,800 - 63,400

After BTC surged to a high early in the morning and tagged the 65,589 area, bullish momentum immediately broke down; price then entered a one-way continuous decline, dipping to the 64,362.2 low. The short-term longs that chased after the spike batch-liquidated and exited on stops. Above, the 65,200 - 65,600 range still holds a large amount of high-level trapped positions and profit-taking sell pressure. The daily medium- and long-term uptrend has not been fully reversed, but after the intraday blow-off spike higher, short-term indicators such as RSI and KDJ have moved into an extremely overbought zone. The upside move’s bullish intentions have been fully realized; after that, the long side’s follow-up push momentum has been completely exhausted. The market is now entering a profit-taking liquidation and pullback-repair cycle. Resistance layers are stacking one after another. If there is no large incremental inflow to take over, it will be hard for price to regain a firm stance above the prior high and start a second rally. The downside retracement room for this leg has already been fully opened. Therefore, widen the scale-in and scale-profit-taking zones. Today’s core trading idea remains the same: stick to the “sell short on rebounds, trade with the trend” approach, place short orders in batches based on the overhead resistance zone, and play the depth retracement scenario in line with the pace of long positions exiting. #长鑫存储链上盘前合约引爆社区