One order captures Ethereum up by 700 points, Bitcoin up by 5000 points, everyone be cautious of a downturn! 8.23 Bitcoin strategy

After Powell delivered his closing speech at Jackson Hole, traders increased their bets on the Federal Reserve cutting interest rates next month. Traders now believe there is over a 90% chance of a rate cut in September, compared to about 75% before Powell's speech. Yesterday during the day, I bottomed out and captured a wave of rebound, updating in the afternoon to suggest continuing to go long. This wave of explosive growth was captured by me, and in the evening Ethereum surged by more than 700 points, while Bitcoin also broke through the 117,000 mark, with long entry points basically at the lowest point, this wave was really delicious!

From a technical perspective, the daily chart just touched the lower Bollinger band and began to rebound, briefly breaking through the middle Bollinger band. The KDJ three lines turned upward to form a golden cross and began to diverge, while the MACD double lines also turned upward from below to form a golden cross, with volume shrinking. The daily chart has completely reversed, so maintain a long strategy during pullbacks! Key resistance levels above to watch are 117500, 118500, 119200, and 121000, while support levels below are 115800, 114700, 114000, 1130000, and 111600. For Ethereum, watch above for 4890, 4950, and 5000, while support below is at 4670, 4570, 4380, and 4200.

8.23 Bitcoin long strategy: Aggressive traders enter long on pullbacks at 114000-114500, conservative traders enter long at 113000-113500, with a stop loss at 112500, and target levels at 116000-116500-117000-117500, if broken look for 118000-118500-119200 levels. Continue to move stop losses for profit depending on the situation!

8.23 Ethereum long strategy: Aggressive traders enter long on pullbacks at 4500-4530, conservative traders enter at 4450-4480, with a stop loss near 4400, and target levels at 4600-4650-4700, if broken look for 4750-4800-4880 levels. Continue to move stop losses for profit depending on the situation!

Short strategy: Aggressive traders short Bitcoin near the 117500 rebound, conservative traders enter short at 118000-118500, with a stop loss near 119200, and target levels at 116500-116000-115500, if broken look for 115000-114500 levels.

Aggressive traders short Ethereum near the 4880-4920 rebound, conservative traders enter at 4950-4980, with a stop loss near 5020, and target levels at 4800-4770-4750, if broken look for 4700-4650-4600 levels.

A surge or drop must have a correction, chasing long at high levels is obviously untimely, if there are long positions at low levels, you can move stop losses for profit, and see if it will continue to surge. Waiting for a pullback is a good opportunity to continue chasing long! #ETH创历史新高