7.24 BTC Chart Trend Analysis

BTC Silk Road reference layout
Entry zone: go long near 64,800—65,200
Zhisun: below 64,200
First target: 65,800, Second target: 66,200

After staying on the sidelines for so many days, someone asked me if I only know how to go short. What a joke—I follow the trend, not obsession.

Yesterday, the market dropped to around 64,000, and it clearly couldn’t keep falling. The shorts smashed it with several waves, but they still couldn’t break below, and volume shrank to the extreme. If it doesn’t fall when it should, something is definitely off. Underneath, buy orders quietly started to absorb. I’ve seen this kind of move before—shorts get exhausted, and longs quietly “steal the house.”

Today, my thinking switches: I’ll look to go long in the 64,800—65,200 range. 64,200 is the bottom line—if it breaks, get out with no overthinking. First, I’m watching 65,800. Once price holds above that level, 66,200 is just a matter of course.

Don’t be stubbornly fixated. The market changes, and I change with it. When it’s time to short, don’t hesitate—when it’s time to go long, don’t hesitate either. That’s what it means to be alive. Stay on the move—don’t fall behind. $BTC