Bitcoin's continuous decline has triggered panic selling in the market. In two days, it has dropped by around 8000 points, and Ethereum has seen an even sharper decline, retracting nearly 600 points from its high. Our medium-term targets have all been perfectly reached.

What will happen in August?

This drop is similar to the previous significant rise; there was little correction during the upward trend, and similarly, there has been little rebound during the downward trend, with only slight slow increases over the weekend.

Setting aside news factors, from a technical perspective, Sister Ying believes that this trend has not yet reached its bottom, as Bitcoin has only retracted about 11000 points from its high and has not yet reached the expected level in retail investors' minds.

If a second downward test occurs, the expected position for Bitcoin is in the 105,000-110,000 range and for Ethereum around 2800-3000. If it slows down, the benchmarks would be approximately 110,000/3200.

A short-term rebound after a sharp drop is normal, but a rebound does not indicate a reversal. Bitcoin at 116,000 and Ethereum at 3650 are the key resistance levels.

In the early morning phase: Observers can lightly enter positions in the 114,600-115,000 and 3530-3550 ranges, contacting $BTC .