7.24 BTC afternoon market observation

In the afternoon, the market continues to trade in a relatively weak, sideways range. Price repeatedly battles within the 64,600–65,000 zone. US Treasury yields remain at high levels, suppressing risk appetite. A strong move upward earlier in the day lacked incremental capital. Profits are continuing to be taken off at higher levels, trading volume shrinks in tandem, sentiment is cautious on both sides, and it is difficult in the short term to break out of a one-direction rebound.

In the short term, the pressure range is 64,900–65,500, with 66,300 as the stage’s strong resistance. On the downside, the key supports are 64,700 and 63,660. In the short term, moving averages form a base to provide support; as long as the key support has not been effectively broken, the medium-term consolidation structure has not been completely damaged. Short-term indicators remain weak, and there is still room to probe lower for support.

Afternoon 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