7.24 BTC Morning Market Snapshot

BTC’s daily candle closed as a bearish candle with upper and lower wicks, marking two consecutive days of bearish closes. At present, price is moving within an ascending wedge channel. As the connection line between the higher highs and lower lows is gradually confirmed, the channel’s effectiveness for “sell the high, buy the low” has become noticeably stronger—when price touches the upper band it pulls back, then drops and rebounds off the lower band; the structure is relatively clear.

Spot ETFs saw a net inflow of 1,064 BTC yesterday, but the price is still oscillating and trading lower. It resembles a “good news already priced in” scenario—like a standout Google earnings report followed by a sharp drop in the stock price—while the market is once again showing divergence.

On the chart, 64,400 has become a support/resistance flip level. If you don’t want to miss out, you can take a small long position near 64,200 on the left side, set a stop loss at 63,000, and look for targets at 65,200 and 66,700. For more conservative traders, wait for a pullback near the lower band around 63,600 to go long, with a stop loss at 62,400, and targets at 64,800 and 65,600.

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