August 23 Afternoon Market View
1. Bitcoin, expected range 115000-116500, expected sideways oscillation; $BTC
2. Ethereum, expected range 4650-4850, expected oscillation leaning bullish; $ETH
3. No important events on Saturday and Sunday.
【Market Analysis】
1. Yesterday, Bitcoin and Ethereum surged. The reason is —
Last night at 10 PM, Powell stated at the Jackson Hole annual meeting that "although concerned about inflation, the job market conditions may require interest rate cuts," releasing dovish remarks that greatly increased market expectations for a rate cut on September 18. Both U.S. stocks and gold rose as a result, and market sentiment turned optimistic in an instant.
2. It is expected that Bitcoin and Ethereum will see a daily-level rebound/rise. Holding long positions for the medium term is advisable.
3. Today is Saturday, and it is expected that there will be some oscillation to digest part of the profit-taking.
However, the optimistic sentiment will continue, so we expect a bullish trend in oscillation.
Especially as Ethereum reaches a historical high, the mindset is to think long-term for bullish and short-term for bearish. Moreover, Ethereum independently rose again during the day,
4. It is expected that today will have a bullish oscillation trend.
Prioritize buying on dips.
