Recently, the #BTC card has been stuck in the resistance zone of 116200-118600 and hasn't been able to break through.
The macro uncertainty + technical selling pressure has caused the market to be a bit stagnant at this position.
Support at 108,000-112,000 USD is really crucial, and if it breaks, we might see a deeper adjustment. @苏哥618
Su Ge feels that the focus next will be on Jackson Hole, whether Powell will speak 'hawkish' or 'dovish'. If it's dovish, it might add some fuel to ETF inflows.
If hawkish, risk assets might take a hit again.
Additionally, on-chain data is quite interesting: exchange funds are flowing out, seemingly hoarding coins, but liquidations are also increasing, market sentiment is actually quite divided.
What do you think about this? #CryptoRally
Is BTC gathering strength to break through 118600 or does it need to retest 112000 first?
Will Powell's speech become the 'direction key' for this market movement?
In the crypto circle, if you don't have a good circle,
and lack first-hand news from the crypto world, then I suggest you follow Su Ge to get on shore, welcome you to join the team!!!
