7.2 BTC Morning Analysis

On the one-hour cycle, the bullish surge top signal is clear. After the price surged to 61316, it formed a long upper shadow K-line. The bulls were unable to hold the high level, and large sell orders worth tens of millions of dollars were ambushed in the 61000 area, with heavy selling pressure directly suppressing the upward space.

The KDJ indicator has entered the overbought zone, the bullish momentum is exhausted, and there is a strong demand for a downward death cross repair. The continuous rally since 58294 has accumulated a large number of profit-taking positions. After the surge, the willingness to cash out has increased, and chasing buy orders continue to decline.

The 60800 level has transformed from support to strong rebound resistance. Subsequent rebounds to the 60800-61000 range will face pressure again.

The short-term core support is at the 60300 moving average level. If it breaks down with volume, the market will further test the 59800 trend lifeline, and the current short-term bullish market will end temporarily. Overbought indicators combined with top selling pressure resonance, the market does not have conditions for continuous upward movement. Each rebound is a window for bearish layout, and attention should be paid to the risk of accelerated pullback after support is lost.

Correction target looks at 69500-58200.
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