August 23 Afternoon Market Commentary
Market Range Prediction
$BTC : Expected operating range 115,000 – 116,500, overall maintaining a sideways oscillation pattern.
$ETH : Expected operating range 4,650 – 4,850, oscillating slightly bullish.
No important macro events over the weekend.
Market Interpretation:
Last night (22:00), Powell released dovish signals at the Jackson Hole annual meeting, mentioning that "although inflation is still a concern, the employment market conditions may require interest rate cuts." The market's expectations for an interest rate cut on September 18 have significantly increased, driving both the US stock market and gold prices up, with the cryptocurrency market also experiencing a substantial rally.
With macroeconomic benefits and positive funding sentiment, both BTC and ETH are expected to continue their daily level rebound trend, and the medium-term bullish outlook remains valid.
Short-term Outlook:
On Saturday, the market may primarily oscillate, with some profit-taking being digested, but overall optimistic sentiment continues.
ETH has broken through its historical high, and the short-term strategy remains "long on the long side, short on the short side." Today's market is expected to maintain a slightly bullish oscillation.
Strategy Reference:
Pay attention to key retracement levels and look for opportunities to position long trades. For real-time operational suggestions, please follow internal strategy updates.
