The triangle has narrowed to the extreme, and both bulls and bears are running out of breath! Tonight, either a rocket breaks through 120,000, or a knife plunges straight to 116,000!
Pictures speak louder than words! This 1-hour K-line looks like it's being pinched by pliers:
Ceiling Firmly Pressing Down: The upper Bollinger band is like a solid wall, with bears burying sell orders like bombs around 119000.
Floor Strong Support: The ironclad support at 116000, combined with institutional hard support—BlackRock ETF injected another $482 million this morning!
In a Life-and-Death Balance: The current index is tightly sticking below the middle band, with MACD green bar -274 yet unable to push the price down, revealing a fierce battle between bulls and bears!
Tang Seng's Proverb:
Tonight at 2 AM, the Federal Reserve's decision will determine life and death!
CME betting shows: The probability of a rate cut in September has soared to 70%! If Powell turns dovish, bulls will aggressively target the 119800 level.
Nuclear-level Risk: If hawkish voices are heard, 116000 may be bloodied! But note: Institutions have stacked $470 million in buy orders between 117000-118000; a sudden drop will surely lead to a rebound!
Tang Seng's Strategy:
Blood and Tears Lesson: Last month, ETH consolidated for 36 hours before the hard fork, and the moment the news dropped, it surged 12%!
Breakthrough Signal: Volume stands firm above the middle Bollinger band + increased trading volume, chasing the target directly at 120000.
Retreat Signal: Break below the lower Bollinger band with increased volume; stop-loss is a must! However, if a 'long needle' bottoming pattern appears at 116000, one can go for a rebound!
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