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Morning thoughts for Thursday, July 31
The four-hour level analysis shows that Bitcoin is still in a downtrend, with lower highs and lower lows. Although there was a brief rebound and a bullish candle appeared in the early morning, the bullish momentum is obviously insufficient to sustain it. On the one-hour level, despite five consecutive bullish candles appearing strong, it has not yet broken through the key resistance level, and there is still a distance to a trend reversal. The current rebound is merely a technical correction, not a trend reversal. The early session operational suggestion is to maintain the high short strategy.
Operation Suggestions:
The big pie is around 118500-119000, targeting around 117000.
Aunt Tai 3860-3880 near Gong, target 3750 or so