7.20 BTC early analysis

In the 4-hour cycle, Bitcoin overall is showing a wide-range oscillating upward pattern. After previously testing the stage low of 61,283.6, it then began multiple rounds of rebound to push higher, with a peak of 65,588.0. After topping out, profit-taking by the bulls exited, and the price saw a pullback and fall. It then stabilized again by leaning on lower support and subsequently oscillated and repaired; the current quote is about 64,697.1. Overall, it has not formed a one-way trend, and mainly features back-and-forth range swing trading in a large band.

A long upper wick after the rally indicates that there is plenty of selling pressure at higher levels. In the next moves, the candles gradually turn green and rise, which suggests sufficient capital is picking up at lower prices. In the short term, the market is mainly consolidating and digesting both long and short positions through range-bound oscillation.

Sell near 65,400–65,600, with targets first at 64,500 and 64,000;

Go long near 64,000 on the pullback, with targets at 65,000 and 65,600, 64,000, 63,000$BTC $GT