7.28 Morning Market Analysis

After BTC pulled back, the sell-side momentum from shorts continued to weaken, and the 63,000 support level remains solid. Overall, bullish momentum has not been completely exhausted. At present, the pullback is simply digesting prior profit-taking positions, as it gathers strength to prepare for a new round of rally.

The market has shifted from high-level consolidation to short-term pressure, which is a benign shakeout and position rotation that helps reinforce the bottom. On the daily timeframe, the price surged, then stalled and fell back; trading volume also contracted in tandem. Selling pressure on the board is being steadily absorbed by funds, so the bullish trend has not broken down—just waiting for the right time to break out.

On the four-hour cycle, a double-top was briefly formed, and there was a slight break below the Bollinger mid-band. This is only a technical pullback that lures shorts; the Bollinger channel has turned downward in the short term, which is merely a phase adjustment and has not damaged the medium- to long-term bullish structure. This pullback, instead, strengthens support below, which is more favorable for subsequent rebound and upward movement.

Trading Strategy

Bitcoin: Place long orders in batches around 63,000, with targets at 64,500-65,000
Ethereum: Go long directly in the 1,850-1,870 range, with targets at 1,910-1,940
$BTC $ETH