7.16 Afternoon Thoughts

The technical outlook across all timeframes is bearish. The daily Bollinger Bands are widening, with prices hitting resistance at the upper band. Yesterday's large bearish candle dropped to below the upper band, indicating strong selling pressure and weak rebound, leading to a bearish short-term outlook and a bearish view for the day.

Suggestions: Short Bitcoin around 118700, target at 117000.

Short Ethereum around 3160-3180, target at 3100 #BTC走势分析 .