7.20 BTC Analysis

The market found a bottom at 64266 during the valuation-building phase, forming a support band relying on the lower Bollinger Band. A long lower-wick candle confirms the strength of buy orders holding up the downside. The short-side selling pressure has already been sufficiently released. The lower Bollinger Band stops falling and turns sideways; the band convergence is complete, building up momentum. A price impulse surged to test the upper band at 64726 pressure; the pullback did not break the 64536 mid-band, the waterline separating long and short. Low-level positions have rotated and exchanged hands thoroughly.

The price pullback is a benign deviation-repair, with long/short momentum switching completed. Short-cycle consolidation offers a low-level low-long entry window. Downside support has solid capital backing, with no room for a deep downside break. The short-term upside target points to the Bollinger upper band range; when price retraces to the mid-band support area, consider scaling in for low-longs.

Downside support: The core waterline is the Bollinger mid-band at 64536, with stronger support at the bottom 64266. Upside resistance: First resistance is the Bollinger upper band at 64726, and the swing high at 65084.

Trading advice: Go long at 63500-64000, targets 65500-64500.$GT $ETH