7.20 Morning Market Watch: BTC

Today’s market saw a mild strengthening. The price held above 64,000. During the day, it surged to around 64,967 before facing resistance and pulling back. Overall, it maintained range-bound consolidation. Trading activity throughout the day was relatively low, with balanced bullish and bearish forces—there is currently no one-way trend.

In the short term, the pressure zone is 64,700-65,000, while 65,600 is a strong resistance in the medium term. Key supports are 63,800 and 62,500. Short-term moving averages continue to provide support, and there is sufficient buying interest at lower levels. As long as support is not effectively broken, the consolidation and recovery structure remains intact.

Reference ranges:
1. If the price rebounds to 64,700-65,000, defend above 65,300, with targets at 63,800 and 62,500;
2. If the price pulls back to 62,500-63,800, defend below 61,700, with targets at 64,300-64,800.#BTC