8.19 Precise Market Analysis
Good morning, brothers. The market hasn't been very strong these past few days,
especially for those who opened long positions at $4800 with $ETH ; I bet you haven't slept well these nights.
So the question arises—are we really about to see a sharp decline?
Don’t listen to a bunch of analysts talking nonsense outside; let’s look at on-chain data:
Stablecoins have been flowing into exchanges these past few days, but no large-scale outflows have been observed;
BTC continues to flow out of exchanges;
The proportion of holdings by whales is still rising, indicating accumulation.
Currently, BTC is close to the 60-day moving average, relatively safe;
ETH is still a bit away from the 60-day moving average and may test the bottom again;
BNB's performance is steady, and it is highly likely to challenge $900+ in the next phase;
$SOL has dropped sharply this time, but it looks more like a typical washout,
Brothers who are holding, don’t panic, be patient, and don’t get shaken off your positions.
Now let’s look at the international situation:
Hamas has agreed to a ceasefire proposal, and the Russia-Ukraine conflict is also expected to ease,
which is positive for risk assets and the crypto market.
Zelensky has repeatedly expressed gratitude during the US-Ukraine meeting and proposed purchasing $100 billion worth of US-made weapons in exchange for guarantees.
After that, Trump will have a call with Putin, leading to another trilateral meeting, and the market atmosphere will become more positive.
As for why the big players are hitting the market first?
They are waiting for the Federal Reserve decision at 2 AM on Thursday.
First, they lure the bears to increase their positions, and then take advantage of the data release to pull up and harvest.
We have also mentioned the institutional cost range:
$BTC is between $100k-$110k, ETH around $3500, and BNB around $760.
Currently, institutional profits are not high, and the general direction remains bullish,
So what we need to do is—hold our coins patiently and don’t get shaken off our positions.
