July 16 afternoon BTC analysis

BTC today has continued to pull back from the 65,589 high. It is currently at 64,084, down nearly 1%. The daily chart has printed a clear bearish candle, indicating that the earlier strong momentum has been rejected. Net capital inflows have narrowed to 263 million, and upside momentum has weakened. However, the fee rate of 0.0068% is at a neutral level, with no sign of panic selling. Below, 63,843 is the key intraday support; if it holds, it would fall into a high-range, wide-volatility consolidation, with still an opportunity for rebound and repair. If it breaks down with volume, the short-term top would be confirmed, and you should watch for an accelerated pullback toward around 62,500. The overall bullish trend has been damaged. It is recommended to stay on the sidelines and wait for a stabilization signal.
Personal suggestion: 64,700-65,100, range; target: 63,100-63,700