7.16 BTC intraday outlook


With CPI and PPI data both coming in far colder than expected, bullish sentiment in the market completed a concentrated release, and the price action turned into a rapid surge. We rely on our sharp Hangqing capture ability to secure several complete rounds of the move—surge followed by pullback.
From the chart, the upper Bollinger Band near 66,000 forms clear resistance above. After the price tested around 65,600 at the high, it began to drop. The bullish momentum on the chart has already been clearly depleted. The first resistance zone above is 65,100–65,600.
Intraday trading plan
On a rebound to the 65,100–65,600 range, scale in short positions.
The first target is 63,600.
If it breaks down, you can continue to look lower toward 62,600.
$ETH $BTC
BTC-1.02%
ETH-2.49%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 1
  • Repost
  • Share
Comment
Add a comment
Add a comment
BlueSevenCommunity
· 10h ago
7.16 BTC intraday thinking
With CPI and PPI data both coming in way below expectations, the market’s positive sentiment saw a concentrated release, and price action pushed through a round of rapid rallies. Relying on our sharp Hangqing capture ability, we secured several complete rounds of rallies followed by pullbacks.
From the chart, the upper band of the Bollinger Bands around 66,000 forms clear resistance overhead. After the price probed around 65,600, it began to decline. The bullish momentum on the chart has already been clearly exhausted. The first resistance zone overhead is 65,100–65,600.
Intraday trading plan
On a rebound back to the 65,100–65,600 zone, place sell orders in batches.
The first target is 63,600.
If it breaks below, it can continue to look down toward 62,600.
$ETH $BTC
View OriginalReply0
  • Pinned