$BTC July 22 Major Update Market Analysis

Review: After opening yesterday, the low dipped to 647 and found support, with the market steadily starting an upward move; during the morning, it maintained range-bound consolidation, while in the afternoon the bulls began to exert more strength—highs kept being lifted and the price continued rising. In the later session, price stayed tightly along the upper band of the hourly Bollinger Band; the bullish push continued to build, and in the evening it surged to hit a new intraday high at 669. After running into resistance, it saw a slight pullback and then traded sideways around 664. Throughout the day, the bulls dominated, and the upside structure was clear.

For today: The market opened with a quick pullback to 659, where it received support. Current price is consolidating sideways in the 663 range. It can be clearly seen that short-term bullish momentum has weakened compared with yesterday, but the overall uptrend has not been broken.

Resistance: 670-685
Support: 650-640