Sell short on the rebound pressure between 66950-67150; put your stop-loss above 67300. Cut the position by half in the 66000-66300 range, and keep the rest to watch 65500-65000.

BTC current price: 66316. Intraday high: 67151. Over the past several hours, it has continued to fall steadily from around 67150. The 67000 level has been tested multiple times without success; bullish volume has clearly weakened, and a high-level stall/buildup is showing. The Bollinger Bands keep tightening, and volatility compression to the extreme is often a sign before a major move. Combined with volume and market structure, the probability of a short-term pullback is higher.

Resistance above: 66950-67150; intraday high: 67151. All three tests were rejected back down—selling pressure is heavy.

Downside targets: 65500-65800, the first stop. If it breaks, look for 64500-65000.

Why am I bearish? Three things:

① After the 1-hour chart surged to 67150, it repeatedly closed lower and pulled back with consecutive bearish closes. Volume is clearly unable to keep up—this is a classic “fake breakout rally to lure longs.” RSI turns down from the overbought zone, with clear signals that bullish momentum is fading.

② The U.S.-Iran conflict keeps escalating, suppressing risk appetite through geopolitical risk. The Federal Reserve will most likely keep rates unchanged in July, but expectations for further rate hikes have not been fully removed—at the macro level, risk assets are still under pressure.

③ While Bitcoin spot ETF fund inflows have improved somewhat, the June monthly outflow of $4.5 billion set a historical record. Even with the recent rebound in inflows, compared with the prior outflows, it’s still not on the same scale. Institutional sentiment has not yet shifted to fully bullish—so what do I do?

The tighter the Bollinger Bands close, the harsher the “waterfall” after the reversal. When the direction hasn’t emerged yet, patience is worth more than courage. $BTC ‌