7.17 Friday BTC morning outlook

On July 17, Bitcoin ended the high-range consolidation driven by prior inflation-positive momentum. The intraday trading range was $63,612–$64,997. Over the past 24 hours, the price fell slightly by 1%. The market repeatedly tested the key psychological level at $65,000 upward, but each attempt was met with heavy sell pressure, which pushed prices back down.
From a technical perspective, at the daily level, the rebound structure built on short-term moving averages has started to loosen. The price has pulled back to trade around the 50-day moving average at $64,043, and the short-term moving averages’ prior support role has begun to turn into resistance. The short-term resistance zone is locked at $64,800–$65,000—an area where multiple previous break attempts failed. Only if volume increases and the market reclaims and holds above this range will the bulls have a chance to repair the market; the key short-term support is $63,500–$63,700, which is the bull-bear dividing line of this round of rebound. Once it breaks down effectively, this round of short-term rebound driven by inflation expectations will be conclusively over; strong support below is expected around $62,500.
Trading suggestion: 638-643 to go short, target 630-625$BTC $ETH $SOL