Thursday, August 7th: Morning Analysis: Still Focusing on Highs

Around 4:00 AM, Trump's speech sent Bitcoin prices surging, but the overall upward momentum was modest, stalling at 115,700. A downward correction then began.

Based on the Bitcoin 1-hour candlestick chart, Bitcoin has moved from the upper Bollinger Band to above the middle Bollinger Band, indicating a downward trend. The KDJ three-line crossover is trending downward, with the opening gradually widening, suggesting a bearish outlook. The MACD two-line upward movement encountered resistance and began to pull back downward, with a golden cross forming, suggesting a bearish outlook.

The overall trend is primarily a correction.

Morning Trading Recommendations: Short Bitcoin between 115,000 and 115,500, with an eye on 113,500. If it breaks through, continue to decline. If it doesn't break, go long. $BTC $ETH $XRP

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