Tongge 7.28 BTC playbook

Enter the range near $BTC 638-643, stop loss above 650, first target 625, second target 618.

Last Thursday, Tongge said 66924 was the rebound high point and that a pullback wave would follow. In less than two days over the weekend, the price slipped from 66000 all the way down to 63166—3000 points just disappeared.
This bearish grind-down is punishment for those who blindly chase after the pump. At 6 a.m., a big bearish candle directly smashed the market down; sentiment flipped instantly.
The worst situation for traders isn’t a slow decline, but the moment before you’re still fantasizing about a breakout—then the next second pins the people who chased in directly on the mountaintop.
Now the chart is very clear: the skeleton structure at the top of the bigger downtrend hasn’t moved at all. That needle above 66500 confirmed heavy resistance, and the 4-hour and 1-hour charts continue to resonate and weaken. The 65000 level has turned from support into resistance. This morning it couldn’t even hold above 64000, meaning the bulls can’t even organize their defense, let alone launch a counterattack.

Todays plan remains unchanged: follow the small-timeframe rebound and keep looking south. In this kind of weakness, every rebound is an opportunity for the downtrend to add “tickets.” Don’t try to guess whether 63000 is the bottom. Bottoms are ground out, not created by one bearish candle. Let those rushing to catch the bottom go test the water first—Tongge only goes in behind the trend to pick up meat.