8.25
8.29
The U.S. will release the July Core PCE Price Index Year-on-Year data;
Trump's second son will speak at Bitcoin Asia on August 29;
BTC
Bitcoin has performed exactly as I predicted on the 23rd. I said that as long as it doesn't stabilize above 117100, it will draw back to 112300 or even break through. We see that the current market has returned to 112300, but did not break below and chose to spike instead. So currently, the market looks safe, as this week faces the monthly closing, and the overall trend remains upward. Next, we need to pay attention to the fact that as long as 112300 is not broken, it still remains in the bullish territory. It may form a double bottom on the daily level. If it breaks through, it will revolve around 103000. Therefore, the overall idea of the market remains unchanged. 112300 is the defense level for this wave of market. If it breaks through, it will form a divergence on the weekly level, and the time cycle for recovery will be longer. Support is 112300-109100, resistance is 114500-117100.
ETH
Ethereum's current wave is very strong. I also alerted everyone about the risks yesterday. As long as it does not stabilize above 4865, we need to pay attention to the risk of a downward adjustment. Last night, there was also a downward spike, but we can still see the upward momentum of Ethereum. The overall idea is the same; the bullish trend on the weekly and monthly levels is still very strong. If the current market continues to move upward, the risks will definitely outweigh the opportunities. Therefore, we need to focus on the daily level's performance. At the daily level, we will find that the strength of each wave is gradually weakening. For this wave to continue moving upward, it must stabilize above the 5000 mark with a large bullish candle at the daily level. We previously predicted that this wave would reach the range of 5000 to 6000. If it continues to oscillate here without stabilizing above 5000, it will form a divergence at the daily level. The best way is to first pull back, with the pullback range being between 4566 and 4380. After the pullback, it can gather strength to move upward. Support is 4570-4400, resistance is 4865-5000.
sol 250 meets
