7.17 Friday midday market analysis

BTC broke below the key short-term support zone of $64,500 mentioned yesterday, and the daily close is below $64,000. Short positions can be kept;
The first target is around $62,724. This area is an important dynamic support level on the 4-hour timeframe. If it is successfully pierced, it is favorable for shorts to continue holding; otherwise, partial take-profit to reduce risk is required;
The second target is around $61,700. This area is the core structural confirmation zone for this short. Once it is pierced with volume, a daily-level pullback will be triggered;
The only condition for the short to become invalid: a renewed volume-driven push above $64,800 and a 4-hour close holding above it—then you must promptly cut loss and exit;
Friday is the most, most, most critical time window in the recent period. Keep a close watch on the order book and be prepared defensively. If tomorrow morning at 8:00 the daily close price is below $62,500, then the short logic remains valid and shorts can continue to be held.
Note: The intensity of the Iran-Iraq conflict, the continued downside momentum of the Nasdaq index, and the scale of net inflows/outflows for Bitcoin ETFs will still affect the direction of the crypto market, so risks must be guarded against.
BTC trade recommendation: continue short around $64,000, take profit at $63,200–$62,000, stop loss at $65,000
ETH trade recommendation: continue short around $1,870, take profit at $1,820–$1,750, stop loss at $1,920