The Governor of Illinois demands that cryptocurrency exchanges accept state regulation to guard against a potential blow from the Federal Reserve! 8.19 Bitcoin Auntie's Strategy

The Governor of Illinois has signed the "Digital Assets and Consumer Protection Act" and the "Digital Asset Self-Service Terminal Act," requiring cryptocurrency exchanges to accept state regulation, while criticizing the Trump administration for relaxing federal cryptocurrency oversight.

The Chairman of the Federal Reserve will deliver a highly anticipated speech in Jackson Hole, Wyoming, this Friday. Some analysts believe that a rate cut in September is not a sure thing, as inflation remains above the Federal Reserve's 2% target, and with tariffs putting upward pressure on prices, inflation is on the rise.

From a technical perspective, the daily Bitcoin chart shows another long lower shadow bearish candle. Looking at the closing price, the coin price is still in a downward trend, and in the morning, the coin price continues to lean bearish, with technical indicators still favoring bearish sentiment. Therefore, for intraday operations, Conan suggests focusing on shorting during rebounds, with minor long positions as a supplement! Key resistance levels to watch above are 117,000, 118,500, 119,200, 120,000, 122,000, 124,500, and 126,000; key support levels below are 114,600, 113,300, 112,600, and 111,800. For Ethereum, watch the resistance levels at 4,490, 4,670, 4,740, 4,800, and 4,870; support levels below are at 4,220, 4,160, 4,050, and the 4,000 mark.

8.19 Bitcoin Short Strategy: Aggressive traders can enter short positions on rebounds between 117,500-118,000; conservative traders can enter between 118,500-119,000, with a stop loss at 119,500 and a target around 116,000-115,000-114,600. If it breaks down, look for 114,000-113,300. Continue to adjust stop losses based on the situation!

Long Strategy: Aggressive traders can add a long position on dips between 114,000-114,300, and add more between 113,300-113,600, with a stop loss near 112,500. The target is around 115,000-115,500-116,000. If it breaks, look for 117,000-117,500. Continue to adjust stop losses based on the situation!

8.19 Ethereum Short Strategy: Aggressive traders can enter short positions on rebounds between 4,370-4,400; conservative traders can enter between 4,430-4,460, with a stop loss near 4,500 and a target around 4,300-4,250-4,220. If it breaks down, look for 4,200-4,160. Continue to adjust stop losses based on the situation!

Long Strategy: Aggressive traders can add a long position on dips between 4,160-4,200 and add more between 4,080-4,120, with a stop loss near 4,050. The target is around 4,250-4,300. If it breaks, look for 4,350-4,390. Continue to adjust stop losses based on the situation!

The weakening of bullish momentum may be influenced by cooling rate cut expectations, and in reality, the US stock market has not seen much of a pullback either. Everyone should be cautious about selling off!