Analyst Liang Qiu: 7.11 Bitcoin Auntie Rapidly Rises, Beware of a Waterfall Drop

Bitcoin Auntie has rapidly risen multiple times in the past few days, following a rapid rise in the early morning that broke the high point to reach 117500 and 3010. In the afternoon, it rose again to a maximum of 118400 and near 3030. Currently, my view remains focused on a potential drop, and I do not recommend chasing the rise. Let's make a simple assumption: even if Bitcoin continues to rise, the maximum it can reach is the integer level of 120000, which is only a 2000-point space, while there is much more space downward. Pay attention to the short-term support at 112000 and 2780. At present, it is more about the outpouring of bullish sentiment, so be patient and wait for the sentiment to exhaust before a drop occurs.

Friends who held positions in the morning rise can continue to hold patiently. For those who haven't, consider entering near 118200 and 3020, with a stop loss below 120000 and 3070.