In the cryptocurrency world, which is full of opportunities and challenges, the fluctuations of rising and falling are just the norm, like sailing in a turbulent sea; do not be intimidated by short-term storms. You must believe that those seemingly insurmountable lows are all accumulating strength for you to surge to the peak. Federal Reserve Chairman Powell stated at the Jackson Hole annual meeting that although inflation remains a concern, the rising risks in the job market may lead the Fed to lower interest rates in September. If you are not worried, you need to worry; if you are worried, you do not need to worry. The market is the same; when you are immersed in the joy of interest rate cuts and rises, you have already reached the highest point. Just go with the trend and increase your position; trying to catch the top will only lead to defeat!
Currently, the trends of Bitcoin and Ethereum are highly aligned, both showing a 'stair-step down' pattern. Observing the 1-hour cycle chart, both have approached the middle band area of the Bollinger Bands. In the short term, it is crucial to pay attention to the effectiveness of the breakthrough at the middle band resistance level. The specific key levels to track are: Bitcoin at 115200, Ethereum at 4638. It is necessary to observe whether an effective break occurs. If the above key levels achieve an effective break, the short-term trend may escape the current downward rhythm and potentially form a 'round bottom' pattern. At that time, it will be time to turn, keep your stop loss tight, and avoid holding onto losing positions.
Operation Suggestions
Bitcoin: Buy near 115200 Target: 117000
Ethereum: Buy near 4690 Target: 4820
