7.31 Morning Thoughts of Chenfeng

Yesterday, the price surged to around 118700 and then continued to decline. Under the influence of news in the early morning, it broke below the 116000 level and rebounded, currently oscillating around 118200. In the morning, the students made a profit of nearly a thousand points by going long; operations need to be steady. Technically, the bearish energy bars on the 4-hour chart have deepened, with a consistent and strong trend, and the market is controlled by bears. At this time, chasing long positions has limited returns, and strategically, it is more prudent to place short positions at high rebounds.

Short at around 118400- 118800 for Bitcoin, target 117500

Short at around 3870- 3900 for Ether, target around 3800 #btc #ETC