July 11 Morning Analysis: Witnessing New Highs Again

In the early morning, bulls exploded once more, breaking through new highs. During the day, the market remained in a range-bound state, with both bulls and bears pulling back and forth, causing market momentum to fall into contemplation; the bulls had an initial outburst in the early morning, but do you think it ends there? Another breakout at 4500 points, with some favorable news leaning towards Trump, Bitcoin has a potential upward space of 10,000 points, which is quite exaggerated. Today we also witnessed Bitcoin set a new historical high;

From a daily chart perspective, the price consistently holds above the middle track, clearly showing an overall strong trend. The middle track plays a key role as the boundary between bulls and bears, which is fully reflected here. Although space convergence brings about oscillating cycles, it means that a significant unidirectional market is unlikely in the short term; on the 4-hour level, the earlier upper track pressure resulted in a series of bearish candles combined with Bollinger Bands contracting. Although it shows that short-term momentum has slowed down, the price's decline near the lower track has shown a significant slowdown in downward momentum, indicating that there is certain support at this level, which also accumulates potential space for subsequent bullish rebounds. The K-line continues to break upwards and drives the Bollinger Bands to expand upwards synchronously, forming a resonance between the track shape and price movement, further confirming the strong continuity of the bullish trend, with the bullish forces clearly visible; switching to the hourly level, the Bollinger Bands' three tracks display a significant opening pattern, with obvious track expansion reflecting the strong momentum of price movement. In the short cycle hourly chart, as this wave of movement breaks upwards, the upper gap of the Bollinger Bands is opened, with the price slightly pressured at the 113760 position, and the market enters a high-level consolidation. The overall trend is upward; thus, the subsequent operation suggests focusing mainly on long positions, with the idea of buying on dips. When breaking through new highs, one can follow the trend to capture short-term gains. Pay attention to support around 111500, and then around 111000. A clear unidirectional upward trend has already formed, with bullish forces dominating the market characteristics prominently.

Bitcoin: Buy around 114400-115000, target 117500-118400

Altcoin: Buy around 2910-2930, target 2980-3020

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