$BTC has almost no actual callback during this period of rise. Since the day before yesterday, after recovering the neckline of the weekly M top, it has strongly opened the upward channel of the daily K, and the 🇩🇪 big cake has been sold out, without too many worries, and the negative has turned into positive.

The current market has begun to hype the expectation of interest rate cuts in September, so from the end of this month to August, there is a high probability that there will be an upward trend. After the interest rate cut begins in September, it may enter a phased callback again. In addition, the spot ETF of the big cake has been continuously inflowing since July 5, and yesterday it poured in 420 million US dollars, so it is really difficult to go down.

This 4-hour rise reached a maximum of around 6.6, exceeding the expectation of 6.5 the day before yesterday. This rebound has been extended and may rise to around 6.85 before the next structural callback will be started. The overall internal structure of this rebound still needs to be found in 1h.

In the 1h, the pullback from 65000 yesterday was not strong, and the lowest was only around 6.23, so the bulls who were ambushing around 6.18 did not take it, but directly started to continue the third rise in 1h. From the current short-term perspective, the intraday pullback can be regarded as a normal adjustment as long as it does not break 6.4, which corresponds to the starting point of this morning.