July 23, 2026 (price reference is valid only for the day) Market tone: The larger cycle is still a rebound after a weekly chart decline; the daily chart is consolidating at high levels after the rebound. Today’s intraday movement is a short-term repair within a wide-range fluctuation. After the breakout, the net positions that increased have basically returned to their original level, yet the price is still holding in the 65,500–66,000 range. If it breaks above 66,400 and net positions expand again, it can continue to be relatively strong; if the 4-hour chart breaks below 65,700 and net positions expand, then it’s relatively weak, and after breaking below 65,500, the second pullback leg will unfold. BTC core key levels: 66,000 BTC daily long/short dividing line: 64,700 Above pressure levels: 66,400, 66,900, 67,500 Below support levels: 65,700, 65,200, 64,200