7.16 Midday Thoughts

After four-hour consecutive bullish candles and an upward pull, volume gradually decreases. The upper Bollinger Band shows clear pressure; the indicators have become dull at higher levels, and the “head momentum” has been overspent. The market no longer has the conditions for sustained breakouts. The “head” is repairing, and sentiment is gradually becoming more intense. In the short term, it is more inclined toward a range-bound structure with a pullback leaning downward. On the weekly level, it still remains weak. This move is only a low-level technical rebound, not a reversal of the trend.

BTC rebound around 65,300–65,800; target around 63,900–63,400
ETH rebound around 1,950–1,990; target around 1,890–1,850
$BTC $ETH