Brothers, I'm back! After moving for a whole day, I finally have time to keep an eye on the market. Let me briefly explain.
First, has everyone kept up with the ideas I shared early Saturday morning? Both long and short positions are valid. Here, I remind everyone not to hold too much hope for Bitcoin just because Ethereum continues to strengthen. The hot money in the market prefers to speculate on Ethereum and altcoins because they have larger fluctuations and higher returns. In the short term, Bitcoin's attractiveness isn't as strong.
Moreover, 118,000 is a critical life-and-death line. Institutions are deliberately not allowing a breakout to maintain their chip advantage before the interest rate cut in September. Once the favorable policy arrives, they will make another upward push to take the whole market.
During this period before the interest rate cut, Bitcoin is likely to continue consolidating at a high level, waiting for news to trigger the main upward wave; meanwhile, Ethereum and quality altcoins still have the opportunity to rise, but the pace will become increasingly fast and the fluctuations larger, so be cautious when chasing highs.
