7.16 Thursday BTC morning outlook

On July 16, Bitcoin continued the bullish repair trend brought by the cooling of double inflation (CPI and PPI) from the prior session. During the day, it overall stayed in a tight consolidation range of $64,680–$65,180, with a slight 24-hour dip of 0.34%. Spot trading volume was $28.37 billion, with momentum clearly shrinking versus the previous day.
Technically, the daily-level bullish rebound structure has not been broken. Price has steadily held above the short-term moving averages, but on the four-hour timeframe the RSI has climbed to a neutral-to-high level, indicating a need for short-term choppy shakeout and cleansing. A large amount of sell-off pressure from prior trapped positions is clustered in the $65,180–$65,500 area above, which is the key near-term resistance. The $64,200–$64,500 zone below serves as the intraday consolidation pivot support. As long as it does not effectively break below $63,500–$63,800 (the bull-bear watershed), this rebound trend will not reverse.
Trade idea: 648–653, looking for consolidation downward into $638–$630$BTC $ETH $SOL