7.29 morning analysis

$BTC The current price at 63,617.90 is in the middle range between the Bollinger middle band and the lower band. The Bollinger channel opening continues to expand downward, and downside space keeps being released. The Bollinger middle band that originally supported the market has already fully completed the long/short conversion, becoming an extremely strong rebound pressure zone. After that, if the price makes only a small rebound to around 64,357, it will face concentrated short-selling pressure. The Bollinger lower band at 63,103.88 is the current key short-term support. In an environment with sufficient bearish momentum, this support level is very likely to be broken with volume expansion, and the space below will open further.

Indicator values: DIF=-312.62, DEA=-230.85, MACD green histogram=-163.53
The MACD dual lines both move downward in depth. DIF continues to stay below DEA. The bearish green momentum histogram keeps expanding in volume, meaning the market’s downside momentum has been充分释放 (fully released). In the near term, there is no sign of stabilization on the chart, and no signal of a bullish reversal; the bearish trend will continue.

After the price topped at 66,924 at the highs, it fell in a step-like manner with consecutive bearish real-bodied candles. During each rebound, the bullish candles are small in real body and have very poor follow-through; the strength of long-side support keeps weakening during the rebound phase. A large number of high-level trapped positions are stacked in the 64,357 and 64,079 zones. Going forward, every time the price rebounds, it will face concentrated selling pressure; the rebound is clearly under heavy pressure.

Key price level ranges
Pressure ranges
1. First strong short-term pressure: 64,357.25 (Bollinger middle band; 4-hour cycle long/short trend watershed)
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2. Secondary rebound pressure: 64,079.90 (dense trapped area around intraday highs)
3. Stage high heavy pressure level: 66,924.30

Support ranges
1. Key short-term support: 63,103.88 (Bollinger lower band)
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2. Intraday low defense support: 62,689.00
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3. Prior swing bottom support: 62,506.90

One凡 personal recommendation: 63,950-64,750 nearby, with #BTC #ETH #BTC走势分析 as the target, around 63,100-62,500