8.20 Macroeconomic Market Analysis

Good afternoon, brothers. The market has corrected in the past few days. Panic has started in the market, with the fear index dropping to 44, down from an average of 73 last week, marking the lowest since June 22.

After rising for a month, a correction was inevitable. This week there are two major events that will impact the market, and some smart money may flee in advance; recently, 500 million has flowed out of Bitcoin ETFs.

Early Thursday morning is the Federal Reserve meeting, which will decide whether to cut interest rates in September. On Friday, Powell will give a speech, and in the face of stubborn inflation, his comments may be bearish regarding not cutting rates.

Currently, BTC has fallen below the 60-day moving average; we will see if it can close above today, meaning it is below the average cost of purchases made in the last two months, very close to the 99-day moving average, significantly reducing risk.

However, we must be cautious of the final blow: the current U.S. stock market has not seen a major drop, and we need to prepare for a possible sharp decline in the U.S. stock market after Powell's speech, which could lead to a further 3-5% drop in BTC.

If there is one last drop, approaching $110,000 would be a good opportunity to buy the dip. Due to the large increase in ETH, the 60-day moving average for ETH is at $3400, so we should prioritize buying BTC and SOL. We will assess whether to buy ETH if it falls below $3900. Of course, these are just speculations; Brother Long does not make unfounded guesses. We'll take it step by step based on technical patterns!

Brother Long's analysis is merely for friendly reference. Adults must take responsibility for their own decisions; investing carries risks. Please invest with spare funds and think independently!