$BTC July 25 Big Boss market update

Today’s open continued yesterday’s downward momentum. After dipping to a low of 638, a small rebound started; the intraday high barely reached 642. The market throughout the day maintained a narrow-range choppy back-and-forth. In the afternoon, it again pulled back to test the 637 intraday low, and the long/short contest was relatively calm.

For the midday chart, I clearly predicted that the 643-645 range is the strongest short-term resistance in this round. The rebound strength from the bulls is insufficient, so it will be difficult to effectively break through. From the technical pattern, the Bollinger Bands channel on the hourly chart has been gradually flattening and leveling out. The current price is trading above the Bollinger middle band.

In the short term, I still expect 635-630.