7.28 BTC afternoon market observation

In the afternoon, risk-averse sentiment cooled. After the price pushed higher, it continued to fall back and is now weakening and consolidating around 63,600. As the interest-rate decision is approaching in the evening, concerns about policy tightening are heating up. Funds are actively reducing positions to de-risk. At higher levels, concentrated lots are taking profits, and sell pressure continues to release. Near-term price action is weak.

In the short term, the suppressing range is 64,500–64,900, while 65,500 has turned into a strong stage resistance. Below, the core supports are 63,200 and 62,800. After consecutive declines, short-term indicators have entered an oversold zone, and there is buy-side support at lower levels.

Afternoon reference ranges:
1、Buy on rebound 64,500-64,900 箜, place defense above 65,200, targets at 63,200 and 62,800;
2、Go long on a pullback 62,800-63,200, place defense below 62,500, targets around 64,300.
#BTC