7.28 evening analysis

BTC is currently quoted at 63,176.70, with a 4-hour drop of 2.29%. The intraday trading range is 62,689.00–65,069.40. In the past 24 hours, total trading volume was 5.42B USDT. Market funds saw a modest net inflow of 16.08 million USDT. Although large bullish buy-the-dip orders appeared to provide support during the session, the size of long-side capital is not enough to offset the market’s overall sell pressure.
From the 4-hour cycle trend, after the price topped out at the stage high of 66,924.30, it continued to range and weaken. It subsequently lost multiple key support levels. This round again printed a full-bodied large bearish candle, probing lower. The current price is hovering right near the lower Bollinger Band. The overall downside channel is fully opened, and the market remains on track with a short-dominant regime. Key price levels to watch: Bollinger middle band MID=64,354.65, upper band UP=65,654.89, lower band LOW=63,054.41
The current price is trading just above the lower Bollinger Band. The Bollinger channel is widening downward as well, further releasing downside room. The Bollinger middle band that previously acted as support has been completely flipped, turning into an extremely strong pressure zone. After that, if price rebounds slightly to around 64,354, it will likely run into concentrated sell pressure from the market. The Bollinger lower band at 63,054 is only a short-term temporary support; with ample bearish momentum at present, this support level is highly likely to be decisively broken with increased volume. Onefan’s personal suggestion: around 63,600–64,380, leave room for a rebound fill, with targets around 62,800–62,000#BTC #ETH #BTC走势分析