7.23 morning analysis

All pullbacks are to better build up energy for a stronger upswing. Don’t fall before dawn—if the direction is right, the rest is just perseverance. In the midnight market, price action overall is trading within a range oscillation, without giving a big one-way move. When BTC pushed up and tried to break above 66,300, it stalled; afterward it slowly pulled back and is now trading near the 66,000 level. Overall, currently the momentum on the upswing is relatively strong, while the pullback momentum is weak; the ratio is still holding at high levels and consolidating.

Looking at the market right now, although it has been stuck in a high-range range-bound pattern, the long-side structure remains unchanged. In the short term, there is still a need for continued correction. From the 4-hour chart, the bearish momentum has basically ended, and the bulls’ upward move is already in the process of building up energy. The current series of candles with consecutive red and a downward probe more reflects the bulls’ resilience to dips. Yesterday’s pullback to 65,500 was followed by a quick rebound, bringing the ratio back to its proper level. This kind of走势 that doesn’t continue probing lower fully indicates that the bulls still have some momentum on the broader front. The morning trading plan remains the same: pull back to go long #币圈 #

BTC 65,300–65,800 can be long, target 67,500