【BTC Market Analysis】

Technical analysis: BTC is currently entering the dual high model (lower high + top high) phase. Yesterday it was mentioned that BTC pumped to 64811 and encountered resistance, the actual result was 64892 encountering a barrier, which is quite close.
Today, BTC is still facing resistance in the 65000 range, which is a strong resistance and pressure zone. BTC will enter a stage of stagnant rise and then pullback.

News: (1) Last night, Fed Chairman Powell's speech released a rate cut signal (inflation down 2% rate cut would be too late, implying a rate cut in September; the encryption investment circle and Wall Street investors are optimistic, with a 70-80% probability of a rate cut in September).
(2) The release of Ethereum ETF, along with a lot of Favourable Information, promotes the launch of the second stage of the Bull Market,

Industry Overview: (1) In the crypto community, BTC is expected to be in the range of 74,000-79,000 in the midterm and 82,000-100,000 in the long term.
A new wave of uptrend has begun, expecting a bullish market in August and September.
(2) If BTC stabilizes in the 73,000-75,000 range, the Bull Market will enter the second phase of the second half.

Summary:
Upper resistance level: 64,000-65,000, encountering strong resistance level from the 120-day moving average; it is difficult for short-term continuous pump breakthrough, and BTC has reached around 64,000-65,000, encountering stagnant growth. At this time, a pullback is needed. Currently, there are two positions for pullback follow-up: (1) If it does not break 63,000, it will accumulate strength sideways and go up. (2) After returning to 60,000-61,000 and digesting short positions, continue to go up.

Middle support level: Pullback to see the range between 57,500 and 58,500 middle support level.

Lower support level: If the market retraces, look for support in the 5.58-5.73 range.

Note:
Spot short-term swing trading considers taking profit in the 6.4-6.55 resistance area and reducing position, then re-entering after the pullback.
Can be temporarily ignored in the medium to long term;
Long-term unchanged.