7.21 BTC mid-day price observation

In the afternoon, the price remains in oscillation above 65,000, continuing a range-bound tug-of-war. After pushing to an intraday high of 65,799, it came under pressure and saw a slight pullback. Overall rebound strength has slowed down; the trading heat on the board has cooled somewhat. Bulls and bears repeatedly contest at key pressure levels, and in the short term the market has entered a narrow range accumulation phase.

The short-term pressure range is 65,600-66,000, and 67,300 is the key mid-term resistance level. Below, the core supports are 64,800 and 63,800. In the short term, moving averages continue to hold up and support. On multiple retests of the support areas, there was buy-side funding entering to take over; before any effective breakdown, the consolidation-and-repair structure remains intact. In the shorter cycle, bullish momentum has weakened somewhat. Repeated probes of the overhead resistance have failed to break through with volume expansion, so it is difficult for the afternoon to turn into a one-way surge.

Afternoon reference ranges:
1. Rebound to 65,600-66,000 箜, hold defense above 66,300; targets 64,800 and 63,800;
2. Pull back to 63,800-64,800 哆, hold defense below 63,100; targets 65,500-66,000.#BTC