7.18 Afternoon Thoughts

From the 4-hour chart, the bullish strength is encountering pressure as it advances, with resistance around the 1210 level above and support near 1185 below. Looking at the 1-hour timeframe, the Bollinger Bands are trending upwards, forming a wedge upward pattern overall, but the bullish strength is weakening, and trading volume is also decreasing.

The altcoin is particularly outstanding, hitting a new high every day, with an important resistance level at 3700, where nearly 1 billion in short positions are circulating. The market is expected to break through 3700 but will initiate a pullback. Short-term longs can be taken at the peak, and shorts can also be placed at the top. Maintain good defense to protect positions.

Bitcoin retraced to the vicinity of 1208 - 12115 for shorts, looking towards 1192 and 1185.

Altcoin retraced to the vicinity of 3680 - 3710 for shorts, looking towards 3560 and 3520.

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