7.21 Panmian Viewpoint

Late last night, it surged to a high around 658, but lacked the strength to continue climbing. It then fell into a pullback and corrective move. The overhead suppression is clearly strong—each round of modest rebounds is accompanied by sell pressure surging out. After the bulls lifted the price, their follow-through was severely insufficient.

Currently, it is pulling back under pressure. In the short term, rebounds are only corrective actions after the spike; they cannot completely reverse the heavy pressure pattern above, and the upside space for the rebound is limited.

Today’s overall thinking is firm: prioritize “selling into rebounds from high/short on rebounds” as the main approach. When the rebound touches the 655-660 range, consider taking action there. The first short-term target is the 635-640 range. If 635 is broken, then follow the trend and look down toward the 625 level. For the long-term swing target, it remains 555 unchanged. When entering positions, strictly control your position size. $BTC #VIP专享4%年化理财