7.10 Friday BTC Morning Thoughts

As of July 10, Bitcoin is currently trading in the 62,900–63,370 range, showing a bottom-fishing rebound over the past 24 hours, with an intraday range of 61,636 to 63,448. The single-day gain is about 1.8%, forming a technical recovery after yesterday's pullback. The coin's anti-decline property remains leading among all major market coins.

From a technical perspective, on the daily chart, Bitcoin has reclaimed the short-term moving averages. On the 4-hour chart, the MACD has formed a bullish golden cross at the low level, while the RSI has rebounded to around 50 (neutral), signaling that the downward momentum has been largely exhausted. The Bollinger Bands are converging from the lower-middle band toward the middle band, forming a stabilization and repair pattern. The first key resistance above is locked at 63,700–63,900, which is the dense chip zone for this rebound and a short-term bull-bear divide line; until a breakout with volume is confirmed, the rebound space is limited. The second major resistance is at the 65,300 level, corresponding to the upper edge of the previous consolidation range. On the short side, the core defense support is 61,900–62,000, which is the starting support zone for this rally and also the dynamic support from the 50-day moving average. Below that, the ultimate strong support is the 60,600 integer level; once it is effectively broken, this round of rebound will be declared over.

Operation suggestion: short at 639–643, target 630, if broken then see 620.
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