Weekend Thoughts for August 16th and 17th

This week, Bitcoin and Ethereum have both reached new highs, but today we are facing a Black Friday with a full-scale pullback! Following the CPI announcement, the inflation rate is unfavorable, likely preparing for interest rate cuts in the next two months. When too many people are optimistic about a specific time point, the market makers will shake out positions and battle long and short!

Weekend Strategy: Short Bitcoin at 117830 to 118268, targeting 116400, with a stop loss at 119190.

Recently, a large influx of funds into Ethereum has helped it maintain its price and reach new highs. Over the past two days, it has dropped from a high of 4794 to around 4371, with massive intraday declines. Trading strategy: Set up short positions in the range of 4450 to 4500, targeting 4380, with a stop loss at 4530.