8.18
On August 20 (Wednesday) at 23:00, Federal Reserve Governor Waller will speak at a blockchain seminar in Wyoming;
On August 21 (Thursday) at 2:00, the Federal Reserve will release the minutes of the monetary policy meeting;
On August 21 (Thursday) at 3:00, 2027 FOMC voter and Atlanta Fed President Bostic will speak on the economic outlook;
On August 22 (Friday) at 22:00, Federal Reserve Chairman Powell will speak at the Jackson Hole Global Central Bank Annual Meeting.
BTC
This week is particularly crucial for Bitcoin, as a gravestone doji has formed at the weekly close. According to the gravestone doji, a pullback is expected, so it will be important to monitor the following: The smaller oscillation range is between 115900 and 120000, while the larger oscillation range is between 112500 and 120300. This week, we will see if it can effectively hold above 120000; only if it holds above 120000 can the bullish trend continue. Currently, Bitcoin is gradually weakening, and the daily indicators have started to show a death cross. Therefore, the overall strategy remains the same: in the short term, it cannot break below 116600; if it does, it will likely oscillate around 112500. If it breaks below 112500, the time required for recovery will extend.
ETH
Ethereum is relatively strong, but there are also short-term adjustment risks. At the current position, the daily level saw a slight upward adjustment yesterday, but the momentum is limited. Currently, Ethereum is undergoing a corrective adjustment, with the hourly level being suppressed by the trendline. However, the overall direction is positive because there are several meetings in the latter half of this week regarding the potential interest rate cut in September. Therefore, if Ethereum does not hold above 4573 this week, we should prepare for a downward spike. However, the spike will quickly recover upwards, which could be an opportunity for us. Support levels are 4385-4320-4180, and resistance levels are 4535-4573-4640.
