8.1 Early Morning Analysis

Thursday's market first declined then rebounded and fluctuated. In the tug of war between long and short positions, seizing the opportunity has led to good gains.

Current market situation: After a weak rebound following a drop to 115700 on the 4-hour chart, there is insufficient volume and the bulls are lacking strength. The upper middle band of the Bollinger Bands has not broken resistance, indicating a bearish bias in the short term. Pay attention to the resistance level at 119000; breaking above may signal a stop-loss or light long position.

BTC: Short near 11860, target 11750.

ETH: Short near 3840, target 3720.