u姐7.17 BTC morning outlook

After BTC surged to 65,589 yesterday and then started to pull back, the current price is trading around 63,500. From the 1-hour chart, after consolidation at the high level, the price has broken below the short-term moving average, and in the short term it has officially entered a pullback and correction phase.

This round of price action began with a rebound from 61,800, with the high reaching the 65,500 range. The bulls have already completed a round of concentrated rally; however, resistance above 65,500 is extremely strong. Multiple attempts to break higher failed, and short-term profit-taking is currently concentrating to exit, with sufficient downside short-selling momentum above.

Trading plan:
1、Shorts: Open a light position around 64,200. Downside targets are 63,200 and 62,200; for friends who missed the short entry near 65,000 yesterday, wait for a small rebound and then choose a good time to enter.
2、Longs: If price retraces to 62,300-62,700, consider buying. Place the stop-loss at 61,900, and look upward toward 63,500 and 64,000.