8.24 Saturday Bitcoin and Ethereum Operation Suggestions.
#美联储何时降息？ #美国CPI数据连续第4个月回落 #美国7月PPI低于预期
After a busy week, some people have gained, while others have to clean up the mess left behind. Instead of beating your chest and stamping your feet, you should reflect on the reasons for your failure in the market. Only by constantly finding out your own shortcomings can you make continuous progress. No one is born to stand on the top. Everyone can succeed after experiencing countless setbacks. The same is true for wanting to be a successful investor. Reflect on your shortcomings and learn humbly to make continuous progress. In the investment market, it is not about who wins or loses, but who can go further. Only by immersing yourself in it can you see through the essence of this investment market. Indecision and self-righteousness are the most wrong investment mentality.
On Friday (August 23), Federal Reserve Chairman Jerome Powell laid the foundation for future interest rate cuts on Friday, but he refused to disclose specific information on the timing and magnitude of the rate cuts. Spot gold rose sharply and the US dollar fell. As the market waits for the direction of monetary policy, Powell also focused on reviewing the causes of inflation, which triggered 13 aggressive rate hikes from March 2022 to July 2023. However, he did note progress on inflation and said the Fed can now turn its attention to the other side of its dual mission, which is to ensure that the economy remains fully employed.
Bitcoin closed with a big positive line, and has already gone out of a strong trend in terms of form. Last night, the market rose sharply and broke the 5- and 10-day moving averages in succession. At present, the market on Saturday temporarily looks at the upward correction. After each high, the market is accompanied by a long period of consolidation, and the sustainability is not strong. Yesterday, the consolidation around the high of 65,000 was under pressure, and the strong market turned into a shock correction after breaking the high.
Observing the four-hour upper frame, Bitcoin is still hovering below the upper track. With the gradual rise of the top and the reduction of the rebound high, the market as a whole shows a shock repair trend after a big rise. The Bollinger Bands gradually narrowed, and the short-term trend was relatively stable with limited fluctuations. Given that it is a holiday, market volatility is expected to continue to maintain a stable trend.
Today's operation suggestions:
Bitcoin operation ideas: short around 64400-64800, target 61000
Ethereum operation ideas: short around 2780-2790, target 2680
