July 15 Biscuit (BTC) Midday Market Brief

On short-term charts, bullish momentum has been gradually exhausting, while bearish counterattack signals are becoming increasingly clear. Yesterday, the two major mainstream coins surged and then pulled back, with the daily candles closing with long upper wicks, releasing an obvious risk warning in advance.

The current sideways trading at high levels is not a bullish continuation consolidation pattern; it is more likely the distribution phase of positions after a stop-hunt to lure longs has been completed. Price-volume divergence is significant on the board, and rebound strength has been weakening step by step. Although there is occasional resistance from bulls during the session, the overall candlestick bias has shifted downward; rebound highs continue to decline, indicating insufficient willingness to absorb at high levels, while major funds are withdrawing in an orderly manner through the trading range.

It’s worth noting that this round of correction has not unfolded as a sharp sell-off, but rather has been advancing slowly via a gradual downtrend. Such a trend often means the subsequent downside room may exceed what the market generally expects.

Trading reference: If the rebound reaches the 65,200-66,000 range, consider trying a short, with targets near 64,000-63,300.

(The above is for reference only; trading carries your own risk.)