8.15 Morning Thought Analysis

Last night, after the initial jobless claims data was released, Bitcoin accelerated its decline, stabilizing around 117,000 in the early morning, and the bearish trend noticeably slowed down.

From a monthly perspective, although Bitcoin's short-term rise has encountered obstacles, the center of gravity continues to shift upward, and the overall bullish trend remains unchanged. On the 4-hour chart, there were signs of divergence earlier, and this retracement meets the technical adjustment needs. Currently, the price has retraced exactly to the 50% Fibonacci level. If it can stabilize here during the day session, there is hope to fill yesterday's gap down. The day session should pay close attention to the key support level around 116,500.

Trading Suggestions

Bitcoin: Buy around 118,000, target 119,500

Ethereum: Buy around 4,535, target 4,6000#美国7月PPI年率高于预期 $BTC