7.17 BTC: The bearish trend is clear; short on any rebound

$BTC
Entry: around 641-646, short from the #美军结束对伊朗新一轮打击 area near 650; target 630-618

Rebound has no volume—only a weak corrective move with no reversal signals: today after probing the low, it closed slightly green. This is just a small rebound after a big drop, with no increase in volume and no fresh buying capital stepping in to absorb—so it’s a brief pause during the downswing, not a bottoming-and-reversal signal. After the repair is over, the downside will continue

Swing highs keep stepping lower, and the downtrend rhythm is clear: in recent candles, each round of the highs is lower than the last. Every rebound height keeps getting compressed, and the strength of long-side support keeps weakening. Bottom-fishing capital has extremely poor follow-through. As long as there is no effective breakout above the key resistance, the bearish market won’t end

Key resistance locks down long room step by step: short-term the 642 moving average and the 646 moving average form two strong pressure lines, tightly capping the upside. Until price stands at 646 with volume, every rebound is only an opportunity for shorts to enter. Once the rebound meets resistance and falls again, it will once more test the support below