7.24 BTC pancake early-session market overview

After yesterday’s spike toward the 66,900 level met resistance and capped out, it kept retreating; in the morning, price action hovered around 64,800 and remained weak, consolidating. Rising U.S. Treasury yields brought macro pressure. At higher levels, profit-taking positions concentrated and cashed out. Overall trading activity on the board shrank, and the bulls lacked incremental funds to move in. In the morning, the main focus was pullback testing of support, and there is no rebound-style move yet.

The short-term downside is pressured in the 64,900–65,500 range, while 66,300 is a strong stage resistance. Key supports below are 64,700 and 63,660. In the short term, moving averages form a foundational backstop. As long as there is no effective breakdown of the key supports, the mid-term consolidation and recovery structure remains intact. In the short run, indicators are biased weak, with further room to probe lower support levels.

Morning reference ranges:
1, Rebound 64,900–65,500; defend above 65,800; targets 64,700 and 63,660;
2, Pull back 63,660–64,700; defend below 63,100; target around 65,300. #BTC