Morning Thoughts on July 18

Yesterday, the price of Bitcoin experienced a roller coaster ride. During the upward movement, a pullback occurred when approaching the resistance level of the round number 121,000. However, from the overall trend, the high and low points of the price continue to rise, showing a fluctuating upward trend.

Currently, bullish momentum has significantly strengthened, and the market has returned to a strong pattern, with a strong willingness to push higher again. However, attention should be paid to potential overbought signals that may arise in the short term, as this could trigger a phase of fluctuating adjustments.

Bitcoin is suitable for buying around 118,800-119,400, with a focus on around 121,400. If it breaks above, look towards the 122,700 level.