On Monday, July 14th, bullish momentum weakened, beware of a major pullback.

A new week begins, and after last week's data-driven market, Bitcoin's price has reached around 120,000, continuously refreshing its historical highs. Recently, the market has been on a steady rise with almost no pullback, and those who were previously bearish have been ground down by the market. However, in this current situation, it's advisable to be bullish but not to chase the highs. In an avalanche, no snowflake is innocent.

Compared to the current trend, although the bulls are strong, this continuous upward movement without any pullbacks can catch you off guard when a correction occurs. Whether in the short term or on a larger scale, the market needs to pull back and consolidate. Therefore, chasing the highs at this moment is unrealistic. While we are currently in a one-sided upward trend, we must remain vigilant for any pullback actions. Ethereum is currently showing signs of a halt, and the bullish momentum is nearing its end.

On Monday afternoon, it is recommended to short Bitcoin at 120,000-120,500, targeting the 116,000-110,000 range. On Monday afternoon, it is recommended to short Ethereum at 3,020-3,040, targeting the 2,950-2,850 range.

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