7.15 Early Morning Thought Analysis and Strategy

Bitcoin broke through the previous high of 118880 and continued to rise to 123300, once again setting a new historical high. Recently, the market has continuously broken through and risen; is this the beginning of a main upward wave, or just a final temptation to buy?

From a technical perspective, the 4-hour chart has shown a clear top divergence, presenting a situation of high surge followed by a bearish close, with prices oscillating downwards and rebounds lacking strength. The current 4-hour chart is about to close.

From a macro perspective, this round of rise highlights the strong power of American institutions. Logically, in the short term, at this high level, retail investors are unlikely to enter and buy Bitcoin spot. At the same time, the trading volume inflow has clearly weakened compared to before, and the possibility of high-level selling and crashing at any time exists.

It is recommended not to chase long positions during the early morning period and consider placing short positions at high levels.

Bitcoin trading suggestion: set a range of 121000-121700, with a target looking down towards 119000-118000.