Market trend analysis: $BTC (2026-7-17)


On a daily timeframe, a pullback has been confirmed. Yesterday, it broke below the key support (around 63,750). After the breakdown, it rebounded, touched the former support-turned-resistance zone, and then fell again—this is a classic continuous downtrend move. At this point, it’s only necessary to determine whether there is resistance within the daily selloff.
Trading strategy:
On the hourly chart, near the rebound around 63,711, you can go short, with a stop-loss placed above 63,872 on a breakout.
For the long setup: go long around 62,252. A stop-loss is not set for now, because the long position may only be filled next Monday.
BTC-1.72%
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