Bitcoin Daily Line and Four Hour Quantity Energy and Quantity Price Structure Analysis (July 28th) 1. Network wide explosion data The effective amplification of trading volume accompanied by the decline in BC prices indicates that short-term selling is driven by leveraged funds from derivatives. The entire network experienced a liquidation of 679 million US dollars, with multiple liquidation of 536 million US dollars (about 80%), and the dominance of long liquidation was overwhelming. 2. Daily level: Decreased volume, persistent bearish structure The daily trading volume is about 2.703 billion US dollars, and spot trading volume has continued to shrink to levels close to the late stage of the bear market in 2023, indicating that spot demand has fallen to a multi-year low. Recently, the daily chart has shown a typical "volume contraction and decline" structure, with prices falling from above 65500 to the Fibonacci retracement of 0.618 in the figure below, which is around 63500. The trading volume remains at a low level rather than a massive sell-off, indicating that the decline is driven by active liquidation by long positions and the depletion of spot buying, rather than large-scale panic selling. 3. Four hour level: Long positions can be sluggish, while short positions can double Since the rebound began on July 1st, the long position has weakened and hit the floor. The long position counterattack is weak, and the price rebound is limited. The short position has also strengthened, but it has not been much stronger. The short position temporarily dominates the short-term downward trend. 4. Quantity price relationship and structural form From a daily perspective, the price drop has decreased in volume, and the decline is not smooth; The 65500 area forms a "triple top" structure, and the price rebound is pushed back when it touches this area. The current price is around 63500, with 63000-63300 being the key support. If it falls below, it will accelerate to 62500 → 60000. 5. Comprehensive Quantity Price Structure Judgment The daily volume contraction and bearish trend (bearish structure)+four hour volume increase decline (strong short-term bearish momentum)+63K orders on the order book with buying reception (local support), the signals in the three dimensions are not completely consistent, and the market is in a tug of war stage before direction selection. 63K is currently the center of the battlefield, with a technical rebound and an accelerated decline if broken. At present, it is a downward correction stage. If the price can rebound to 63800-64300 in the future, you can continue to short Bitcoin with a light position and a stop loss level of 64500, The estimated first target price for the decline is around 62500, the second target price is around 61500, and the ultimate decline target price is above 60000. In the short term, the price will experience a downward correction trend, while in the medium to short term, it will remain in a wide range of fluctuations of 58000-68000 yuan. There should be a third peak around 66500 yuan in the future. At the end of the bear market, the market fluctuated widely, and we worked hard to survive until the bull market started.