柯南趋势为王
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Bullish
Economic data is mixed, and expectations for the Federal Reserve rate cut continue to fluctuate! 8.17 Bitcoin strategy
In the past week, U.S. economic data has been mixed, leading to ongoing fluctuations in the market's expectations for the Federal Reserve's rate cut. On Friday, U.S. retail sales saw widespread growth. However, a later report showed that consumer confidence unexpectedly declined, while inflation expectations rose. Previously, the U.S. July CPI and PPI reports seemed to send different signals about whether the economy could withstand the impact of Trump's comprehensive import tariffs, but both indicated that service inflation remained stubborn. Meanwhile, there are significant internal differences within the Federal Reserve regarding a rate cut in September. Although the probability of a rate cut in September is relatively high, there is clearly a disagreement on how much to cut. Yesterday's bullish strategy suggested that Bitcoin could gain around six to seven hundred points, while Ethereum could gain around forty points. Overall, cryptocurrency prices have not fluctuated much.
From a technical perspective, the daily Bitcoin chart shows a small bullish candlestick with a long upper shadow, while Ethereum shows a doji candlestick, with both showing little fluctuation, indicating a tug-of-war between bulls and bears at this position. The larger cycle shows a clear corrective trend, but the overall bullish trend has not reversed, so for intraday trading, Conan suggests focusing on shorting at lower levels! Key resistance levels to watch are 117800, 119200, 120000, 122000, 124500, and 126000; key support levels to watch are 116500, 114600, and 113300. For Ethereum, key resistance levels are 4490, 4670, 4740, 4800, and 4870; key support levels are 4360, 4250, and 4160.
8.17 Bitcoin trading strategy: Aggressive traders can enter long positions on a pullback to 116500-116800, while conservative traders can enter at 115700-116000, with a stop loss around 115000, targeting 117800-118500-119200, and if broken, looking at 120000-121000, continuing to adjust stop losses based on the situation!
8.17 Ethereum trading strategy: Aggressive traders can enter long positions on a pullback to 4370-4400, while conservative traders can enter at 4300-4330, with a stop loss around 4250, targeting around 4460-4490, and if broken, looking at 4530-4550.
Short position strategy: For Bitcoin, short one lot on a rebound to 120000-120500, with a stop loss around 121000, targeting around 119500-119000, and if broken, looking at 118000-117500, continuing to adjust stop losses based on the situation!
For Ethereum, short on a rebound to 4580-4620, with a stop loss around 4650, targeting around 4500-4450-4400, and adjust stop losses based on the situation!
The weekly trading volume of the Ethereum ETF is about $17 billion. Conan believes that as long as there is no continued selling pressure, the outlook remains bullish, so everyone should be cautious when shorting!
In the past week, U.S. economic data has been mixed, leading to ongoing fluctuations in the market's expectations for the Federal Reserve's rate cut. On Friday, U.S. retail sales saw widespread growth. However, a later report showed that consumer confidence unexpectedly declined, while inflation expectations rose. Previously, the U.S. July CPI and PPI reports seemed to send different signals about whether the economy could withstand the impact of Trump's comprehensive import tariffs, but both indicated that service inflation remained stubborn. Meanwhile, there are significant internal differences within the Federal Reserve regarding a rate cut in September. Although the probability of a rate cut in September is relatively high, there is clearly a disagreement on how much to cut. Yesterday's bullish strategy suggested that Bitcoin could gain around six to seven hundred points, while Ethereum could gain around forty points. Overall, cryptocurrency prices have not fluctuated much.
From a technical perspective, the daily Bitcoin chart shows a small bullish candlestick with a long upper shadow, while Ethereum shows a doji candlestick, with both showing little fluctuation, indicating a tug-of-war between bulls and bears at this position. The larger cycle shows a clear corrective trend, but the overall bullish trend has not reversed, so for intraday trading, Conan suggests focusing on shorting at lower levels! Key resistance levels to watch are 117800, 119200, 120000, 122000, 124500, and 126000; key support levels to watch are 116500, 114600, and 113300. For Ethereum, key resistance levels are 4490, 4670, 4740, 4800, and 4870; key support levels are 4360, 4250, and 4160.
8.17 Bitcoin trading strategy: Aggressive traders can enter long positions on a pullback to 116500-116800, while conservative traders can enter at 115700-116000, with a stop loss around 115000, targeting 117800-118500-119200, and if broken, looking at 120000-121000, continuing to adjust stop losses based on the situation!
8.17 Ethereum trading strategy: Aggressive traders can enter long positions on a pullback to 4370-4400, while conservative traders can enter at 4300-4330, with a stop loss around 4250, targeting around 4460-4490, and if broken, looking at 4530-4550.
Short position strategy: For Bitcoin, short one lot on a rebound to 120000-120500, with a stop loss around 121000, targeting around 119500-119000, and if broken, looking at 118000-117500, continuing to adjust stop losses based on the situation!
For Ethereum, short on a rebound to 4580-4620, with a stop loss around 4650, targeting around 4500-4450-4400, and adjust stop losses based on the situation!
The weekly trading volume of the Ethereum ETF is about $17 billion. Conan believes that as long as there is no continued selling pressure, the outlook remains bullish, so everyone should be cautious when shorting!
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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