BTC spent the entire weekend grinding between 62500-63500, and it's time for Monday's BTC direction to be out!

Brothers and sisters, BTC bounced from 57735 to 63462 at the weekend, with a rebound of more than 5000 points. It looks really fierce. But what happens after bouncing it up? The price fluctuated back and forth between 62500-63200, which lasted for the entire weekend. It's quite confusing, neither up nor down. However, on Monday, liquidity has returned and the short-term trend direction should be revealed. 1. Disk status: Shrinking grinding disc, changing disc imminent. At the 4-hour level, the price surged and fell from 63462, followed by the continuous emergence of small entity candlesticks, and the trading volume shrank from the main volume to the local volume. The bulls can no longer push, and the bears haven't hit, but the latest 4-hour candlestick shows a divergence in volume and price, and prices are retesting the previous support levels. The entrusted selling amount on the order book is not large, it has only slightly increased, which is not enough to completely break this rebound market. However, it is possible to cause the price to fall back to around 61500. At the daily level, it is still a deviation between volume and price, and in the medium term, it is still in a bearish position. This rebound is more like a repair to the downward trend, not a reversal of the trend. The weekly chart is likely to close with a small bullish candlestick. In the short term, the price is expected to stabilize above 58000 yuan, and next week it is likely to first fall and then rise. Please refer to Figure 1, Figure 2, and Figure 3 in the following figure. 2. There is a big problem on the chain: 50000 BTC are deposited into the exchange per day. CryptoQuant data shows that the number of BTC deposited on the exchange surged to nearly 50000 per day last week, marking the fourth time this year that it has reached this level. More importantly, the average deposit size has doubled from 1 BTC to 2 BTC. This means that the surge is not caused by individual investors, but by whales and institutions. The conclusion of CryptoQuant is straightforward: if the 60000 support is broken, the next stop is the realized price of around 53000. However, I personally believe that in the short term, the price of Bitcoin will continue to fluctuate widely, and it is not easy to completely fall below 58000 yuan. It will take several more days of volatility to build momentum. 3. 63400-63500 is the examination room. The Fibonacci retracement of 0.786 in the mid cycle is between 63400-63500, and multiple attempts over the weekend have failed to effectively break through. If the volume breaks through 63500, the rebound may continue to 64000-65000. If there is a long upper shadow or solid bearish candlestick here, the logic of short selling is confirmed. The support below is at 62000. If it cannot be held, the price is likely to fall back to the 0.386 position of Fibonacci retracement, which is around 61500. 4. Strategy: Let 63400 produce the results first. Currently around 62650, do not chase long or short, wait for the exam room to open. Short selling: Long upper shadow or solid bearish candlestick appears between 63200-63500, light position test short, stop loss 64000, target 62000-61500. If the volume drops below 62000 directly, chase short and look at 60000-61000. Long (after pullback): 61000-61500 shows a high volume bullish line or a long bearish line, light positions try long, target 62500-63000, even around 65000 and below 68000, stop loss 60500. 63500 is the entrance to the examination room. It depends on which side it opens to today's first high-volume candlestick. Before the signal is complete, watch more and move less. Let 63.4K output the results first, and let the K-line confirm its direction before starting the operation. What is the trend of Bitcoin market in July? Please refer to the in-depth analysis and trading strategy in the following article Bitcoin BTC 3D Integrated Trading Analysis