Early Morning Operation Ideas

After Chairman Powell's speech on Friday evening, market expectations for a rate cut in September increased, leading to a rise in the prices of Bitcoin and Ethereum. However, as the impact of the news gradually diminished, the overall volatility of these two major cryptocurrencies was not significant over the weekend, and the upward trend did not continue, instead entering a slow oscillation and retracement adjustment phase after the surge. The main reason is that the significant price increase on Friday evening formed a breakthrough, releasing a large amount of momentum, but there was no immediate adjustment after the breakout. Therefore, the weekend market can be summarized with the word 'grind'—the fluctuation space is relatively small, and under such circumstances, short-term trading should not be entered blindly.

My overall outlook remains unchanged, still optimistic about a slightly bullish oscillating trend. In the face of such a market, more patience is needed. If a pullback occurs and stops, one can consider taking a small long position, but it is essential to defend well; it’s better to miss the opportunity than to make a mistake, and absolutely do not hold positions!

Operation Suggestions

Go long on Bitcoin in the 113500-114000 range, with an initial target near 115500, and if stable, continue to look towards the 117200-118600 area.

For Ethereum, look to go long on a pullback to the 4730-4760 range, with an initial target near 4880, and if it breaks through, continue to look towards the 4950-5000 area. Each should strictly maintain their defensive strategies!