8.24
BTC
The market fluctuations over the weekend were not significant. After being driven up by news, it indeed requires time for repair. The overall approach remains unchanged, with the short-term fluctuation range between 114500 and 117100. We will observe the direction it moves towards, but at this moment, it is essential to pay attention to Monday's opening. If it opens lower on Monday, it would be favorable for the next week's market. A very important piece of news from the previous week is the expectation of a 25 basis point interest rate cut. If there are no significant changes, a rate cut in September is almost certain. So how should the market move next? We see that the current expectation of a rate cut is quite similar to the ETF expectations at that time, and there is a high probability it will rise first, then fall, and rise again. Why do I say this? It is because the initial rise stirs market expectations, and the subsequent fall is due to a significant amount of old money not flowing quickly into the market after the rate cut. It needs to go through a washout and accumulation phase before external funds can flow back into the market, leading to another rise. Support is at 114500-112300, resistance is at 117000-118100.
ETH
The overall approach for Ethereum is the same. At this position, we need to pay attention to whether it can stabilize above 4865 on the daily chart. If it cannot stabilize, we do need to be cautious about short-term pullback risks because the weekend has begun to see a rebound, but its strength is gradually weakening. Support is at 4570-4380, resistance is at 4865...
WFLI
Recently, we have seen that the entire network is talking about Trump's token. Now, major exchanges are trading it before the listing, and it will go online on September 1. The total profit margin exceeds $5 billion (from January + March private placements), and there is significant selling pressure at the opening. Aave holds 7% of WLFI, and Lista is a partner of WLFI stablecoin usd1, so we can pay attention to the linkage effect.
Sol can still be held.
