7.23 morning outlook

After the four-hour timeframe price surged and moved higher, the trading volume gradually decreased, while the Bollinger Bands narrowed slightly in sync. 65,800 is the key reference level that determines the strength of buyers versus sellers at the start of the session. If the price holds above this level, the range-bound but relatively bullish trend will likely continue.

Once there is an effective breakdown, the market will further slide down to retest support below. The current order book lacks volume confirmation; after attempting to break through the previous high, it faced pressure and pulled back. In the short term, directly breaking through a key resistance faces some difficulty. Chasing a bullish move blindly while at a high level carries relatively higher risk.

Big bro: resist at 66,500, 67,200 faces pressure (lows), then look down to 65,000 and 64,000.

Second bro: resist at 1,960, 2,000 faces pressure (lows), then look down to 1,880 and 1,820
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