7.22 Midday Outlook

After yesterday evening surged to the high around 669 and then momentum got exhausted, it has entered a round of sustained pullback. Currently, it’s only struggling to rebound slightly; this is just a short-term correction after the high-to-low move. The overall weak-ranging pattern hasn’t changed.

At present, after failing at a higher level, it has pulled back and is consolidating around 662. This round of decline is a profit-taking and adjustment following the prior rise. There is heavy resistance overhead, and the rebound strength is hard to sustain. A downward correction move has already started; every rebound is an opportunity to go short.

For today, the approach is to hold the line on rebounds at high levels. When the rebound rallies and meets resistance, go short in the 667-672 range. The first target is 657, and the second target is 650. After a breakdown, continue to look downward with the trend. In the short term, rebounds are only for correction. When the rebound reaches its target area, go short following the move. Keep position sizing light and enforce strict risk control.$BTC #特朗普同意Clarity法案纳入伦理条款