7.16 Cloud Thinking in the Morning
The four-hour chart shows a clear market reversal recently. The previous series of bullish candles was strong, followed by a sharp turn into a series of bearish candles. The bulls have repeatedly counterattacked to reclaim lost ground, but lack sufficient momentum, encountering resistance at key levels and falling back. Especially in the recent wave of rebound, trading volume has shrunk, indicating a lack of confidence among bulls and low willingness to chase highs, with bears dominating in the early session.
Short near 118000-118500 for Bitcoin, target 116500, 115000.
Short near 3150-3170 for Ethereum, target 3110-3080.
