7.21 Jack afternoon BTC market analysis

In today’s trading, the market first moved into a round of rallies. After hitting the 65,988.0 area high point, bullish momentum quickly weakened; the price then kept pulling back. The current price is 65,875.0. The day’s overall range is only 0.07%, and overall volatility is very low.#

The current price has fallen back into a zone where multiple moving averages overlap. On the order book, the scale of sell orders above the market is slightly larger than the buy support below, so the resistance for a short-term upside breakout is relatively strong. After repeatedly testing the 65,988 high-level pressure, it failed to hold. In the short term, the market is likely to keep oscillating and consolidating back and forth within the 65,700–65,990 range.

Don’t chase in just because you see a small rebound. Focus on the support around 65,700. If this support is broken to the downside, the market will see a round of downward adjustment.#币 #币圈