BTC, short-term formation of rising wedge, beware of callback risk.
BTC started a new round of pull-up in early July. It went straight to 64,000 in just a few hours, which is good news, but 64,000 encountered a new round of resistance, and its upward trend was temporarily blocked.
According to the 4H pattern, its eight-wave pattern is basically completed, and a rising wedge is formed in the short term, indicating that the rise slows down and the risk of callback increases. Its upper boundary is around 64,000, which is also the location of the 20-day moving average. If it fails to break through effectively, it will be a new round of callback.
The overall logic of making orders is to buy at lows and highs. BTC can basically start at 60, and it has been done many times. Now the price should not chase high.
If you need professional and effective analysis, please leave a message and follow.
