8-1 BTC Morning Thoughts

The first day of August hit us hard, plummeting by 4500 points. Fortunately, the crash started in the early hours of the morning; otherwise, I don't know how many people would have been trapped again. So it's really necessary not to hold overnight positions.
The current market has broken the support level of the range-bound movement and the previous low of 114667. Therefore, we need to pay attention to two positions now: the first position is the new low of 114239 and the middle line of the weekly K upward channel at 113800. Although the market shows a slight upward trend, we must not let our guard down and should not rush to bottom-fish.

Operation Suggestions:
Long positions can be entered when it stabilizes at 115800 and shows a continued upward trend. The target can be aimed near 117800.
Short positions can enter at 115500, targeting 114000 or entering at 113500, targeting 112000.