7.16 BTC intraday thinking

With CPI and PPI both coming in much colder than expected, market-favorable sentiment completed a concentrated release, and the price action staged a round of rapid spikes. We rely on our sharp Hangqing-capture ability to take down several complete cycles of the spike-up then pullback.
From the chart, the upper band of the Bollinger Bands around 66,000 forms clear overhead resistance. After probing as high as around 65,600, the price started to pull back. The bullish momentum on the chart has already been clearly depleted. The first resistance zone overhead is 65,100–65,600.
Intraday trading plan
On rebounds into the 65,100–65,600 zone, place short orders in batches.
First target: 63,600
If it breaks down, it can further drop to 62,600
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