Silk Road in the early hours of 8.23

Actually, recently Luyao has been reminding everyone to buy on dips. Yesterday, she also suggested entering a long position around 111600, and up until now in the early hours, it has risen to 117300, a gain of 5700 points.

In fact, Powell's recent speeches have been quite mild, indicating that the economy is a bit troubled and may need interest rate cuts to help out. Now everyone believes that the probability of a rate cut in September is particularly high, at 89%. Why is that? Because of the tariffs; although they don't seem like a big deal right now, they will gradually impact the economy over time, making it worse. Powell also mentioned that the tool of interest rate cuts should be used wisely, otherwise the effect won't be significant.

Currently, it is also fluctuating within an increasingly narrow range, forming a descending wedge, with signs of a rebound, but it hasn’t yet broken through the key point of 118600. There is support at the bottom price level, but we need to wait and see if it can continue to rise. Previously, Luyao reminded everyone that during May and June, there was no need to keep a close watch on interest rate cuts because short-term fluctuations might be due to other factors. Now it seems that the likelihood of a rate cut in September-October is greater, as the effects of tariffs will gradually become apparent, and the economy may worsen. Therefore, moving forward, let’s watch closely to see if prices can rise and break through the key point, which would reduce risk, and perhaps we could continue to reach new highs.

Bitcoin: Long in the range of 115000-115500, target 117000, if broken then look towards 120000, strictly maintain good defense. $BTC $ETH $XRP #杰克逊霍尔会议 #美国初请失业金人数