7.22 Jack Morning BTC Market Overview Analysis

In the early stage, the market continued to rise, reaching a high at 66,711. After that, upward momentum gradually weakened. The price then repeatedly broke below multiple moving-average supports, and the overall trend shifted from bullish to weaker. The current price is 66,256.

In the short term, several indicators’ moving averages are all above the price, forming a clear suppression pattern. Bearish strength currently has the upper hand. At present, there is temporarily no strong support zone below. If the current level cannot be held, there is the possibility of further downside.

At this stage, there’s no rush to bottom-fish and bet on a rebound. During the downtrend, most rebounds are only brief pauses, and it’s easy to get caught in repeated losses. To participate, you need to wait patiently for stabilization signals to appear, and don’t rush to enter.

Trade recommendation: trade within the range

Trading range: 65,000-65,800
Stop-loss defense: 64,000
Zhi Ying target: 66,800