【Market Outlook for August 6, 25】$BTC $ETH
First, let's review Trump's speech last night where he shifted from dovish to hawkish, ultimately it was the tariffs that led to the market decline. Bitcoin fell below the 113 mark again, and Ethereum also dropped below 3600, approaching the EMA120, followed by a failed rebound at noon.
There aren't many news items today, but at 4:30 AM tomorrow, Trump will announce a statement, and we don't know what it will be. Just be aware of the risks. Today's market movement is due to expectations that Trump will impose additional tariffs on semiconductors and chips next week. There’s no need to panic about the market aftershocks; pullbacks are opportunities. If you need to continue buying the dip, then do so. The speculation around interest rate cuts is coming soon, and the latter half of August is expected to be strong. From a data perspective, institutions currently have only a small amount of selling pressure. In my view, this is just a signal to lure shorts, as it is merely a drop in the ocean for them.
From a technical perspective: On the daily chart, the previous candle shows a downward bounce from the lower track with a shadow candle. The market opened today with slight fluctuations testing the 7-day moving average. The Bollinger Bands are in an opening state, with short-term moving averages trending downwards. The MACD fast and slow lines are extending downwards with reduced volume, and the KDJ is leveling off while being cautious of another downward move. The VR indicator is consolidating around the 70 value. On the 4-hour chart, the market is fluctuating within the expected Bollinger Bands range, currently testing the middle band. The Bollinger Bands are narrowing and flattening, with short-term moving averages running around the middle band. Overall, the short-term market continues to look at range fluctuations.
Bitcoin 4h support: 112985 Pressure: 114777
Ethereum 4h support: 3545 Pressure: 3660
Today's Fear Index: 55 (Greed)
4-hour long-short ratio: 48.5% / 51.5%
Daily Hot News:
🪅 White House: Trump will make a "statement" at 4:30 AM
🪅 Total holdings of 64 Ethereum reserve strategy companies exceed 3 million ETH
🪅 CZ's application to dismiss FTX's trust claim of $1.76 billion against him
🪅 Today's fear and greed index dropped to 54, changing from greed to neutral
