7.24 Big Cake Analysis

Analysis: Place orders around 654-659 on the rebound, hold at 664, and watch 645-630.

From the high at 657, a new round of downward move began. After setting the phase low at 646, a rebound correction followed. In the short term, the moving averages that were trending down gradually level off, and the market has entered a low-range consolidation pattern. During the rebound, the highs continue to face pressure step by step. The bulls do not have enough strength to break upward, and the large-scale downtrend structure from the earlier period has not yet been reversed. The current rebound is defined as a technical correction after the sell-off. The moving averages above, together with the prior consolidation range, form combined resistance. If the rebound cannot effectively hold above this resistance zone, the bearish market may resume again. #Gate事件合约首发狂欢 $BTC ‌