7.28 BTC order book analysis

Direction: A breakdown and move downward from a high level; short-term control is dominant; focus on managing rallies rather than chasing.
Control: Around 63,600-63,800; stop-loss: above 64,000; targets: 63,020/62,600.

BTC yesterday surged to 65,722.5, then faced pressure, turned around, and has continued moving downward. The current price is around 63,160. The price has effectively fallen below the short-term moving averages, and short-term bullish counterattack momentum has completely waned. Selling pressure above keeps releasing, and the market has officially entered a continuous downtrend phase. Short-term moving averages have shifted from support to strong resistance. Downside, the key focus is defending the 63,020 support.

Earlier rallies were mainly driven by market optimistic sentiment pulling in funds to lift prices. However, the high-range consolidation has accumulated a large amount of profit-taking positions. After hitting the top pressure zone, institutions concentrated on realizing positions. Disputes among medium- and long-term capital are gradually increasing; in the short term, large amounts of profit-taking have exited the market, bottom-fishing sentiment has cooled, and after the breakdown, the market has entered a deep adjustment stage.

It is not recommended to directly chase control at the current price. Wait for the price to rebound toward the 63,600-63,800 pressure zone. If the rebound lacks strength and cannot reclaim the moving averages, do not place new positions. The high point at 64,000 is the strong resistance for this cycle; set the stop-loss above 64,000. The first support below is 63,020; if it is effectively broken, further downside will look toward 62,600.$BTC #夏日创作营