Analysis of Thoughts on the Evening of July 25

For bearish traders, today's market is undoubtedly a long-awaited blessing. The long-accumulated short-selling momentum has finally seen a concentrated release, while the bulls have suffered a heavy blow.

Bitcoin continued to decline during the early hours from 119,300, reaching a low of 114,667, breaking through a key support level. Bearish sentiment is in absolute control, and a typical "paint door" pattern has appeared on the chart, indicating significant destructive power.

From the 4-hour chart, the bears still hold a dominant advantage, with the candlestick running along the lower Bollinger Band, and no signs of a short-term bottom are in sight. The key resistance level above is located in the previous top-bottom reversal area. If this position cannot be quickly reclaimed, the rebound space will be severely restricted. Currently, the main funds have clearly released short-selling signals, and it is expected that the evening market will experience intense fluctuations.

Operation Suggestions:
BTC: Short positions should be established in the range of 117,000-117,500, with the first target at 115,000. If it effectively breaks below, you can continue to hold, with a long-term target looking down to 108,000.
ETH: Short positions can be established in the range of 3760-3790, with the first target at 3650-3500. If it effectively breaks below, it can be held further, with a long-term target looking towards 3200.