7.28 Midday Market Outlook

Previously, around 65,000, it was indicated that there was a very strong need for a pullback. Currently, it is playing out as expected, falling to the 63,700 target area. The market is now consolidating around 63,000. After the drop, there has been no effective rebound and repair. The sell-side pressure remains sufficient, and the downtrend structure stays intact.

On the 15-minute timeframe, the market is currently trading in a slight sideways range. This is only a brief pause during the decline and has completely failed to reverse the overall sell-side trend. In the short term, the rebound faces clear downward pressure, with heavy resistance overhead.

For today, the plan remains: keep holding firm on rebounds, mainly look for selling on strength!
Rebound in the 63,600-64,100 range to sell into weakness, with the first target at 61,800. If it breaks, follow the trend lower toward 61,300.
Be wary of rebound traps that lure longs; don’t blindly go long or on sell, and strictly control your position sizing to do proper risk management. $BTC $ETH #GateCard消费返现最高8%