Bitcoin is still in a downward channel, and the key daily support has been lost, indicating weakness. The strength of the short-term rebound is weak, and its sustainability is questionable: if it cannot break through and stay above 118500 during the day, it is highly likely to continue the downward trend, or trigger a deep correction on the daily chart. Before breaking 119200, bears dominate, and rebounds are mostly short-term adjustments.

Morning operation: Short directly at 117500-118000, target around 116000 #美国7月PPI年率高于预期