Wave of Currency: July 8 Bitcoin (BTC) Market Analysis Reference:

After Bitcoin reached the 64000 line, it faced pressure and fell back again, maintaining an overall downward trend during the day, with the current price operating near the middle band of the Bollinger Bands on the daily level. The MACD histogram has started to shorten, and bullish momentum is gradually diminishing; the KDJ and RSI have turned downward after entering the high position, indicating insufficient upward momentum. The short-term bulls have entered a consolidation phase, with upward pressure focusing on the EMA30 (63500) line.

The short cycle of 4 hours has clearly indicated a short-term corrective signal, with the MACD double lines forming a death cross and continuing to diverge downwards, while the green bars are continuously expanding, indicating that bearish strength is being released. The KDJ is rapidly descending into a weak area, and the RSI is also declining, with prices breaking below moving average support. The short-term market is bearish, and it is highly likely to continue to test lower support. Only a return above the 62500 moving average pressure will temporarily slow down the downward momentum; otherwise, further retracement will occur.

Wave of Currency: July 8 Bitcoin Short-term Reference:

Long position: Buy in the range of 60800-61600, stop loss below 60000, target 62000-63500,

Short position: Sell in the range of 64300-63500, defend above 65000, target 63000-61500,

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The above analysis and strategies are for reference only, please bear your own risks. The article's review and publication may be delayed, and the strategy may not have timeliness; do not operate blindly.

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