7.28 Tuesday BTC morning outlook

On July 28, Bitcoin fell under pressure early on. The current price is trading around $63,200, down about 2.4% over the past 24 hours, with an intraday range of $63,021-$65,722. The prior day’s rebound lacked strength to break through resistance; bullish momentum faded, and funds pulled back in advance. After the price slipped below the key $65,000 level, the market shifted into a slightly weak range-bound consolidation. Traders are now waiting for the outcome of tonight’s Federal Reserve interest rate decision.

From a technical perspective, the first short-term resistance is locked at the intraday high of $65,722. Above it, the core pressure is concentrated in the $66,300-$66,500 area, where earlier holders’ positions are densely packed. Only if there is a renewed surge in volume and the market reclaims the $65,000 level can near-term downside pressure be alleviated. On the downside, the short-term key support is $63,000—an important low for this pullback. If it is broken effectively, further downside room will open up, with the next line of defense at $62,500.

With the daily chart breaking below short-term moving averages, the bullish rebound structure has been damaged. Short-term indicators continue to weaken, and during the sell-off, trading volume has increased somewhat, with bears taking the upper hand.

Trading suggestion: 637-642, target 625-618$BTC $ETH $SOL