The daily trend of BTC looks really good Market analysis on July 23rd BTC is currently around 65700, with a 24-hour high of 66400 and a low of 65500. After reaching 66400, it enters a retracement phase Short term technical weakness, but I am not bearish The 1-hour RSI is at 42, and the price has fallen below 658800 at EMA20 and 657200 at EMA60, with short-term retracement pressure The 4-hour RSI is at 52, slightly lower than EMA20's 65660, but still above EMA60's 64790 The DIF of 4-hour MACD is 378, DEA is 454, and the green bar is expanding, indicating that the upward momentum is cooling down The 1-hour Bollinger Bands have a lower limit of 65550 yuan and are currently close to the lower limit. The cost-effectiveness of chasing short positions is not high at the current position The contract funding rate has become -0.0018%, with a position of approximately $2.004 billion. Short sellers have started paying, but the price has not continued to plummet, making this structure more prone to pullbacks ETF funds are still flowing in, with a net inflow of approximately 930 million US dollars for six consecutive trading days from July 14th to July 21st On the latest day, BTC spot ETF received another inflow of $69.1 million, although the inflow was weaker than the previous days, the institution did not convert into continuous selling On the hot topic, Binance had a net outflow of 9030 BTC yesterday, indicating a decrease in exchange balance, which is favorable for spot supply The new version of the CLARITY Act has been released, and the market is still waiting for both parties to continue promoting it. This is a positive regulatory expectation in the medium and long term, and it will not directly pull the market in the short term Macroscopically, the US dollar index rose to 101.12, and the probability of the Federal Reserve raising interest rates by 25 basis points in July increased to 31.5%. Coupled with the Middle East conflict and oil price risks, the external environment is not easy So today is a short-term retracement, not a bullish market suitable for chasing gains Choose multiple directions Stepping back from 65500 to 65000 without breaking, you can go long The first target is 66000 yuan, and after breaking through, we will see 66400 yuan Stop loss below 64700 yuan