On the morning of July 18, $BTC is currently in a consolidation phase.

According to wave theory, there is still one more sharp decline expected, with the timing suggesting it will occur after midnight tomorrow.

Data indicates a seller presence of 70 million above 120,000 at the 1,000 point level, and a buyer presence of 30 million below at the 1,000 point level. From a timing perspective, we should consolidate here during the day.

The range is between 119,000 and 121,000.

Quick traders: You can short or go long near the peak or the low, taking 1,000 points profit and running.

Beware of a waterfall!! Because there is a time delay from when I post until you see it, do not go long if a sharp decline occurs.

According to the converging triangle I drew, if the price breaks the triangle, don’t rush; wait for it to pull back and determine the direction before making a trade.

There is significant resistance above; if it breaks and hits a new high, don’t think about going directly to 150,000, as you will likely get trapped quickly. Confirm the direction for long positions before entering.