7.17 Afternoon Analysis

The spot bid I gave yesterday has now reached around the current reference level of 63,200.
The Bollinger upper band is synchronously curling downward; the pace of the channel expanding upward has completely stalled. A channel convergence with a downside expectation has formed, and a short-side ranging market has been officially established.
If the subsequent rebound cannot regain and hold above the 64,192 middle band, the pullback will continue lower to test the Bollinger lower band at 62,568.7.
On the 4-hour cycle, the MACD has formed a standard bearish death-cross structure: the DIF has crossed below the DEA, the long-side red histogram has fully faded out, and the short-side green histogram has expanded significantly.
With the DIF and DEA lines both turning downward in sync, upside momentum is quickly consumed—this is the core confirmation signal that the trend has weakened.
The double lines still have further downside space, with no signs of stabilization or repair. The short-side momentum reserve is sufficient. One personal suggestion: set around 64,200–64,800, with a target at 63,000–62,500. If it breaks down, watch around 61,800.#BTC #ETH #BTC走势分析