7.16 Chen Jie Big Cake Midday Analysis

Midday data shows that BTC net inflow capital is as high as $422 million, and even after the rally, the main funds still maintain a very strong buy-side support. Although the CCI is -27.39%, indicating that some profit-taking limit sell orders are hanging above at high levels, the continuous inflow of real funds suggests that the bulls’ takeover remains deep. Overall, the bullish sentiment has not diminished.

Currently, BTC price is trading around 64,826. On the 4-hour timeframe, after the coin spiked to 65,589, it has been conducting high-level consolidation and washout. The K-line is currently precisely supported by the 4-hour MA7 moving average (64,815). Below, the MA30 lifeline (63,897) is still continuously diverging upward, providing strong support. The overall structure of ranging with an upward bias remains intact; the sideways movement at high levels is bulls building up momentum. The midday trading plan is firm: go long on pullbacks.

Trading Strategy
Go long around 64,000–64,600, aiming at 65,300–65,800–66,300, with entries at 63,200 #btc $BTC