7.18 Midday Thoughts

Today, the big pie surged and challenged the 65,000 level, then came under pressure and fell back. Overall, it has stayed in a high-level range-bound consolidation. Currently, it is running at 63,500–63,900, with a slight drop of 0.19% over the past 24 hours.

Technical Structure Analysis:
The primary short-term resistance above is 64,500. This level also coincides with pressure from the 50-day moving average. If there is no major catalyst and volume expansion to push upward, the bulls are unlikely to regain control of the market. The 65,000 whole-number level is the core strong resistance of this rebound. Both previous attempts to push higher were met with heavy sell-offs. Only by holding above this level can the short-term rebound structure be fully repaired.

The key defensive level below for the evening is 63,000. It aligns with support from the 30-day moving average and is also the biggest pain point for this period’s options expiry. This is the bulls’ short-term lifeline. If the bulls’ strength is concentrated and effectively breaks this support, then the rebound market driven by inflation expectations will come to an end, and the market will move further down to the 62,000–62,500 range to seek bottom support.
Personal Suggestions
Big pie: Place bids around 64,500–64,800
Target: Around 63,400–62,700
Second pie: Place bids around 1,870–1,890
Target: Around 1,790–1,760#USDT充值理财双重奏 $BTC $ETH