$BTC July 23 Head (leader) market analysis

Reviewing yesterday’s price action: at the open it first fluctuated and moved downward, touching 659 support and then rebounding, pushing up to 667. In the morning, bullish momentum continued to fade; the market then entered a series of consecutive declines. In the evening, the low reached 655, and then it rebounded slightly to 661 and traded in a range. Throughout the day, it was clear that bullish momentum kept weakening.

Today’s open saw a brief rebound to test the 663 high, then it fell again, breaking back below 656. The higher and lower points continued to trend downward; a weak pattern gradually became confirmed, with the current price roughly ranging around 659.

From the technicals on the 1-hour Bollinger Bands: the bands are opening downward while gradually tightening; in the short term, the market is expected to maintain the correction rhythm.

For the short term, first look for a downside test at 655; if support breaks, then when a rebound reaches around 662 it will face pressure and continue lower to probe 650.

Overhead resistance: 667-678
Support below: 655-645