On Friday, July 11th, at the end of the week, be cautious about chasing highs.

Recently, after the Federal Reserve discussed monetary policy, all three major indices opened higher. Following this trend, gold, various spot commodities, virtual currencies, and some altcoins also surged. Bitcoin has continuously reached new highs, currently hovering around 118,500. In this round of increases, the bears have been ruthlessly harvested, with many losing their entire investments, as the price has risen over 7% in just two days. A rise of ten thousand points is quite exaggerated. Recently, the Mountain King has also been leading students in this smoke-free battle, striving hard. The results are not perfect, but they are relatively ideal. Due to busy trading, there haven't been many updates.

Returning to the market, looking at Bitcoin's daily chart, the previous wide-range box oscillation has been broken by a series of upward movements, with bulls strongly stretching the price, leading to new highs. However, it is worth noting that the recent unilateral rise has completely exceeded technical boundaries, and there are already serious signs of price changes on the chart, with a clear top divergence pattern. Currently, there are signs of stagflation at high levels, so it is essential to pay attention to the market's pullback and correction. Therefore, it is not advisable to chase long positions in the short term; instead, focus on the market's pullback actions. One must understand that the market will not always rise or fall; currently, the bulls have been released, and there hasn't been much retracement. With the current short-term stagflation signals, it is advisable to approach the afternoon with a mindset of shorting on rebounds!

In the afternoon on Friday, it is recommended to short Bitcoin at 118,300-118,500, targeting 115,000-113,000. In the afternoon on Friday, it is recommended to short Ethereum at 3,000-3,200, targeting 2,900-2,800.

The journey of life is filled with challenges and uncertainties, much like a ship sailing in a turbulent sea, which may encounter storms at any moment. But please believe that every setback is a sharpening of growth, and every predicament is an opportunity for transformation.

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