7.24 BTC perpetual market outlook analysis $BTC

After pulling down to the 64636 low in the early stage, Bitcoin’s “big pie” moved into repair and rebounded. Overall, it’s undergoing a wide-range consolidation after a sharp drop. The Bollinger Bands are gradually tightening, the long/short game is intensifying, and it’s hard for the short term to break out into a clear one-sided move. Treat it primarily with a wide range oscillation approach.
Upper resistance zones: 65300 — 66284
The upper Bollinger band line at 65250 forms the first-stage short-term pressure point. If price tests higher without additional buy pressure following through, the rebound is likely to meet resistance and roll over. The prior high at 66284 is the medium-term bull/bear strength dividing line. Only by standing above this level with volume can the bulls fully reverse the recent weak pattern; otherwise, any rebound can only be defined as a corrective move.
Lower support zones: 64500 — 64850
The earlier low at 64636 is the important bottom support band for this leg. 64500 acts as the extreme defensive position of the range. Once price effectively breaks through 64500 support, short momentum will be released again, and downside room will open further.
The overall oscillation range spans nearly 1800 points, with ample room, making it suitable for selling high and buying low. Don’t chase positions.
Trade idea reference
1、If the rebound reaches the 65200-65800 area and shows a stall/consolidation signal, you can set up a short position. Place the stop-loss above 66350;
First target is the 64850 support. If it breaks, follow the move and look toward the lower end of the range near 64500.
2、If price retraces into the 64500-65800 area and stabilizes with a stop to the selloff, you can try a long with a light position size, with a stop-loss below 64400;
For rebound targets, first look at the 65250 resistance. If it breaks through, then look up to the 66284 resistance band.
The market will wash back and forth very frequently, with a large range amplitude. Don’t frequently enter and exit with heavy position sizes. Wait patiently until price reaches the upper or lower edges of the range to participate. Add a strict stop-loss to every trade, and eliminate the practice of holding through losses. #Gate事件合约首发狂欢