The meeting on Friday has basically been heating up in the market for a week or two. One moment it's doveish and the next moment it's hawkish, but in reality, it's hard for us to guess what Powell will actually say.

What we do know is that Federal Reserve Chairman Powell will deliver a keynote speech at 10:00 AM Eastern Time on August 23 (22:00 Beijing time on Friday). The market is merely worried that Powell's speech may deviate from recent market expectations, which could affect confidence in interest rate cuts.

However, the effect of this meeting and speech is similar to the CPI data from August 12 last week. As long as it’s not too extreme, it can only dispel the market's own fears, which can be considered good news. In other words, as long as Powell is not overly hawkish, the market can accept it.

So, if before Friday, Bitcoin can reach a level of 108-110 and Ethereum can reach a level of 38XX-39XX, it would be a very good buying opportunity. This level serves as strong support and has squeezed out the gains since August, making the risk-reward ratio very suitable.

Therefore, in the next couple of days, we need to closely watch whether the market can provide a sudden panic dip for a low buy-in opportunity.