Afternoon analysis on 7.29

After the price deeply retraced to the 62,689 low and then stopped falling, it formed consecutive stabilization small candles, and this round of a big bullish candle lifted the price and directly broke through the prior consolidation range. However, the 65,722 prior high still has a large amount of trapped capital, so during the rebound upward it will continue to face selling pressure. The overall 4-hour downtrend structure has not been completely broken; it is only a corrective rebound during the down move. The MACD two lines have long been running below the zero axis. Currently, the DIF is slightly turning upward and moving closer to the DEA. The bearish histogram is shrinking to an extremely low level and is nearly flat. The bearish downward momentum is basically exhausted. There is an expectation of a short-term golden cross turning bullish, but the two lines have not yet stood above the zero axis, so this is only defined as a phase corrective rebound, not a reversal to a bullish trend. YiFan’s personal suggestion: around 64,500–65,300, “箜”, target around 63,800–63,000 #BTC #ETH #BTC走势分析