7.23 BTC daily afternoon market watch

After yesterday’s spike to 66,900 met resistance, the afternoon continued to maintain a range-bound, choppy back-and-forth. Trading volume kept shrinking on the chart; the bulls lacked momentum to push higher. Profits from the higher zone were continuously being realized (taking profits), and long and short sides kept fighting each other. In the short term, there is no clear directional trend; the market mainly relies on range-bound “washing” to churn positions.

Near-term suppression range: 66,500–66,900. 67,300 is the medium-term strong resistance. Key supports below are 65,000 and 64,400. If price pulls back to these support levels, there is incoming/absorbing capital to take over; as long as it has not effectively broken down, the medium-term range-repair structure has not been damaged. Short-cycle indicators remain weak, and there is a possibility of further downside to test supports.

Afternoon reference ranges:
1、Rebound 66,500–66,900 箜, hold with defense above 67,300; targets 65,000 and 64,400;
2、Retrace 64,400–65,000 哆, hold with defense below 63,700; target around 66,300.
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