7.20 BTC sees back-and-forth tug-of-war between bulls and bears. In the morning, after touching the lower support, staggered long entries were placed in batches and successfully captured 660 points and 532 points. From the four-hour timeframe, BTC is currently moving within a narrow range of 64,000–65,000, showing a typical box-range (range-bound) consolidation pattern. The 65,000 level above acts as a strong resistance zone; multiple tests have failed to break through effectively, while the 64,200 support below has also not been broken, indicating a temporary balance of power between bulls and bears. The MACD is stuck near the zero axis, and the momentum histogram bars are weak, suggesting the trend direction is unclear. The Bollinger Bands have narrowed and then leveled off, further confirming that the ranging market is likely to continue. In terms of strategy, it is recommended to use a sell-high/buy-low approach. When price rebounds to around 65,000 and shows a stalling/consolidation signal, consider lightly shorting; if it pulls back to the 64,000 support level and stabilizes, you can go for a short-term long to catch the rebound. At present, it is not advisable to chase pumps or panic-sell; wait patiently for a breakout signal before adjusting your strategy.