7.27 Jack evening: BTC analysis

In the early stage, the market continued to rise. After pushing to a peak at 65,744, the upward momentum gradually weakened and the price began to fall under pressure. The moving averages turned from upward to curling. After that, two rounds of rebounds appeared, but the rebound highs kept making lower highs and the price was never able to break back above the prior high resistance. Weak signals gradually emerged.

A new round of decline has recently started. The price has directly broken through multiple support levels. At present, the trading price is around 65,178. Next, the key is to watch whether the support in the lower range can hold. If support is effectively broken, downside room will open further. To reverse the current relatively weak pattern, it will be necessary to regain the upper moving-average resistance level. In the short term, bearish forces are in control of the market. In terms of execution, it’s not advisable to rush into trading to bet on a rebound—wait patiently for signs that the market stabilizes. #大饼 #以太