7.18 BTC: Oversold rebound, then consolidation grinding sideways

$BTC

Entry: near 641-645, plan to look for 650 while watching 632-625

The oversold rebound only repaired itself up to the Bollinger middle band and then stalled; the long side’s upward push momentum has run out. With the upper Bollinger band pressing down heavily, there is strong overhead resistance and a dense volume of profit-taking sell orders from trapped positions. The previous day’s high-volume selloff led the trend; this current range-bound movement is only a continuation of the decline, not a reversal. The Bollinger channel is trending downward: the middle band continues to suppress the price. After a narrow-range consolidation, the risk of breaking down further is even greater. In the short term, dip-buying capital is already taking profits and exiting; the market’s long sentiment is extremely cautious, and there is a lack of sustained buy pressure for the upside #美军结束对伊朗新一轮打击