7.16 Afternoon BTC Posture Analysis

The market is consolidating sideways at high levels. Short-term indicators are weakening, and the upward momentum is insufficient. In the near term, there is a need for a pullback to digest the profit-taking orders.

During the day, trading volume is light, and it’s difficult to break upward. Waiting for a pullback before buying at a lower level is more prudent.

Big Pie: pull back to 63,700-64,200 to do long (long position), target 65,000-65,500;

Posture: pull back to 1,870-1,890 to do long (long position), target 1,930-1,950.

Tip:
The above analysis is based on Muyao’s personal view. The market changes rapidly; this content is for reference only and does not constitute any investment advice!
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