Tongge’s 7.22 BTC outlook

$BTC Buy at 668-672 on the rebound, stop loss at 676, first target 658, second target 650.

The rebound strength on the chart these days isn’t weak, but the higher it goes, the more obvious the pressure becomes.

670-680 is a dense area of previous bagholders. It’s been repeatedly ground through earlier, so the sell pressure is there. Getting a touch and being able to hold are two different things. On the 1-hour timeframe it’s already starting to catch its breath—the upward momentum is beginning to lag—but the 4-hour structure hasn’t broken, so this isn’t a blind long setup. It’s about waiting for the price to enter the pressure zone and see how the market signals itself.

If it gains volume and holds above 670, the pressure will open up; if it can’t get sustained acceptance on the spike, then a pullback and digestion is a normal course.