7.16 BTC analysis

In this round of market action, the early dip to the 61658.6 low marked the bottoming and consolidation; after the market’s bearish momentum was fully released, a reversal and repair phase began. The swing low continued to rise, with bulls dominating the counterattack. A single large bullish candlestick body directly broke through the prior long-term consolidation range, pushing higher to refresh the stage high at 65588.

After price touched the 65588 high, it then closed with a series of pullback candles, forming a high-level lagging structure. In the short term, the momentum for longs pushing higher is clearly exhausted. After a round of rapid rally, the chart has entered a post-rise consolidation and digestion phase. This is only a short-term pullback of gains; no deep reversal breakdown signal has appeared yet, and the medium-term bullish tone has not changed.

Go long around 64400-64600, with targets at 65000 and 65588;

Go short near 65000-65500 on the rebound, with downside targets at 64500 and 63900. $BTC $GT