7.15 Early Morning Thoughts

Currently, Bitcoin has shown a significant decline from its peak, with short-term moving averages turning downwards, forming a converging pattern with long-term moving averages. The short-term convergence is dominant. Although the price has broken below previous important support levels, there is still a certain foundation for upward momentum. This pullback is highly likely to be a phase adjustment, and the short-term retracement may very well be preparing for the next rebound to reach new highs. It is recommended to buy Bitcoin around 119800, with a stop at 119100, and to look for levels above 122000. For Ethereum, buy near 3020, with a stop at 2980, and look for levels above 3070 #比特币 .