July 15th Early Morning Bitcoin Market

Bitcoin broke the previous high of 118,880 and surged to 123,300, once again setting a new historical high. The recent market continues to break upward; is it the start of a rally or just a final inducement? From a technical perspective, the 4-hour chart clearly shows a divergence, indicating a high followed by a downward trend with bearish candles. The price is oscillating downwards, and the rebound lacks strength, with the 4-hour chart about to close. From a macro perspective, this rally reflects the strength of institutions in the U.S. Logically, there shouldn't be retail investors buying Bitcoin at this high level. The inflow of trading volume is noticeably weaker than before, so there is a possibility of selling off at high levels at any time. In the early morning, it is advised not to chase long positions but to set up short positions at high levels.

Bitcoin; Short around 121,000-121,500 Target at 119,000-117,500 Stop-loss at 122,000

Ethereum; Short around 3,030-3,060 Target at around 2,900 Stop-loss at 3,100 #BTC突破12万大关