July 17 midday BTC analysis

BTC is currently quoted at 63,469.2, down 1.77% on the day. Net capital outflow is 85.52 million. On the 15-minute timeframe, since 64,874 from the intraday high, a sustained decline began, repeatedly printing multiple consecutive bearish candles. After dipping to a low of 63,270, it rebounded slightly. Selling pressure from the shorts is strong. A short-term resistance has formed around 64,000. Support is being tested below at 63,270. The short-term downtrend has not been reversed; buy-side follow-through is weak. For the short term, it’s preferable to stay on the sidelines first, and be cautious that a break of support could lead to further downside.
Trade suggestion: Sell/short near 63,800–64,200, target: 61,800–62,200