In July, the direction only needs to focus on the trend of the 2-day line. If 111980 is the point 2, the highest point on January 20th of 110000 is point 1. Although point 2 has broken the previous high of point 1, from a static energy perspective, it is diverging; the logic has just not completed yet. If we want to continue to push upwards, whether it's by 10,000 points or 30,000 points, we can only look at the rebound energy at this level. There are 3 points that have a chance to rise as long as they do not fall below: one is 106150, one is 103695, and one is 102165. Currently, the bottom at this level has not yet formed, so those in cash can continue to observe; it should roughly materialize within a week.

Similarly, if the bottom of this level at 96000 is breached (as long as it doesn't break in the spot market, it can still be held), the adjustment cycle that has come from 74000 would be completely finished, and we would enter the next adjustment cycle, which also lasts 3 months. Therefore, last night, I speculated that if the entire second half of the year goes through another adjustment cycle, it will peak, and the bull market from 15,000 in 2022 to the current wave will completely end. Because the higher it climbs, the stronger the downward force will be, and it will be more difficult to rise again after the drop; the adjustment cycle will be longer, accompanied by the backdrop of an economic recession in the United States and gradually increasing tariffs, this adjustment cycle may extend in the future, leading to the next bear market.