7.18 BTC Analysis

Friends! Have a great weekend! After an early downtrend built a deep short-exhaustion bottom, price broke out of a technical deviation correction and rebounded. From the lower-band range, the price bounced back and tested the Bollinger midline at 63737, the 63,737 level line. In the short term, the bulls’ rebound wave momentum is gradually entering a phase of attenuation and dulling. RSI across multiple timeframes synchronously moves into a neutral-high zone, and there are signs that the momentum incremental buildup is collapsing. Upward continuation lacks clearly obvious momentum. The upper Bollinger band continues to form a rigid channel that dampens this move. This rebound in the current cycle is only a passive repair after being oversold and has not formed trend-reversal-level incremental buy-side follow-through. The overall large-cycle bearish main structure has not been overturned. The current narrow-range sideways consolidation is a typical “late-stage rebound” position-switching and buy-the-sucker pattern. Going forward, it most likely will once again resume mean-reversion downward. You can take advantage of the rebound pressure zone to set up shorts accordingly.

Resistance zones overhead: the first resistance is 64492 at the Bollinger upper band, and the secondary resistance is the previous high of 65571. Support zones below: short-term support is 63737 at the Bollinger midline; strong support is the lower band at 62982; extreme defense is the bottom low point at 62506. Weekend trading is quiet! Rely on support and resistance—sell the highs lightly and buy the dips. $BTC $GT $EVAA