Bitcoin first showed a strong bullish trend, with the low reaching 57,750.0 before starting a sustained rally, hitting a new phase high of 64,729.0. After reaching the high, bullish momentum weakened, and the price began to pull back and correct. The current price is at 62,246.1, which is a high-level correction after a significant rally.
On the 4-hour chart, there is a continuous series of higher highs and higher lows, indicating a clear upward trend. After facing resistance at 64,729, multiple bearish candles have appeared, breaking the short-term bullish momentum and entering a high-level correction phase. However, the overall medium- to long-term bullish structure has not been completely destroyed, and this is a normal pullback and consolidation after the rally.
Operation suggestion: Go short near 63,000-63,800, with a downside target of 61,000.
7.9 Bitcoin Early Morning Analysis
Bitcoin first showed a strong bullish trend, with the low reaching 57,750.0 before starting a sustained rally, hitting a new phase high of 64,729.0. After reaching the high, bullish momentum weakened, and the price began to pull back and correct. The current price is at 62,246.1, which is a high-level correction after a significant rally.
On the 4-hour chart, there is a continuous series of higher highs and higher lows, indicating a clear upward trend. After facing resistance at 64,729, multiple bearish candles have appeared, breaking the short-term bullish momentum and entering a high-level correction phase. However, the overall medium- to long-term bullish structure has not been completely destroyed, and this is a normal pullback and consolidation after the rally.
Operation suggestion: Go short near 63,000-63,800, with a downside target of 61,000.