7.23 Bit Morning Thought Analysis

From the hourly chart, Bitcoin is currently running along the upper Bollinger Band, with a continuous appearance of "long upper shadow + small bullish candle" combinations, indicating that there is significant selling pressure above, and the bulls seem to be struggling to push further.

The red bars of MACD are shortening, and the two lines of DIF and DEA are about to stick together at a high position, which may form a death cross at any moment. If the price does not push up, the bears are likely to start gaining strength. The three lines of KDJ are still lying in the overbought zone, and once the J line falls below 70, it can basically confirm a pullback signal. If this is accompanied by a MACD death cross, it will be a relatively standard downward signal.

Operating suggestions:
Bitcoin: You can consider shorting in the range of 119800-120500, with the first target at 118000. If it breaks below, you can look at 116000. Personally, I think the overall direction might head towards 108000.

Ethereum: You can try to short in the range of 3750-3780, targeting 3650-3600.