Meeting

Compared to last year's Ethereum bull market, this wave of increase is clearly stronger. It now seems that a breakthrough of five thousand for Ethereum is just around the corner. Currently, on the four-hour chart, it is in a high-level consolidation. However, from the Bollinger Bands perspective, it is starting to narrow, and the resistance is still quite severe. The entire market is waiting for a rate cut; as long as there is no rate cut, risks will still exist. Do not blindly chase long positions; the probability of Ethereum reaching 4090 is still significant, knocking out some shorts before continuing to rise.

Bitcoin's trend is still relatively weak, with funds primarily flowing into Ethereum and some strong altcoins. It is not yet time for a significant rally. Trading suggestion: You can go long near 117690. The MACD on the four-hour chart is also in a death cross and trending downward. After a rise, a significant drop is also likely. Dip buying is the strategy, gradually increasing positions while waiting for the potential rise brought by a rate cut from the Federal Reserve in September.