7.20 ten thousand early-morning market insights

To be honest with everyone, this little rebound is purely a trap to lure longs—don’t see two red candles and get hot-headed enough to rush in and chase the pump!

Earlier, the market surged to the 65562 high point, then got slammed down hard. The upper Bollinger Band kept pressing down all the way; the price dropped a large amount, and only at 61283 did people finally start to pick up some chips.

Now the price is pinned at 64542, with only a modest bounce supported by the Bollinger middle band. The level at 65178 is a wall that presses down hard; above it, all the chips are waiting to exit. This rally has no real follow-through in terms of capital support, and the bigger trend’s weak situation hasn’t changed at all.

If you chase and enter at this point, you will 100% end up trapped somewhere around mid-slope. The steadiest approach is to wait for the price to touch the upper pressure zone, then set up a short position in line with the move.

Trading ideas:
For BTC, bounce into the 64400-64900 range and short directly, with a stop-loss set on the 65200 side. For the first wave, look at 63300; if it breaks down, then watch the Bollinger lower band at 63060.
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