$ETH is fluctuating near 4600. If it cannot break 4700 tonight, retail investors might get trapped!
The August market is full of "pits": previously, the false breakout at 3900 trapped a lot of people, and now 4700 has hit a wall three times. Every time there's a sell-off, someone shouts "buy the dip at 4000," but when it really drops to 3940, there's no response. The manipulators love to play this game!
The Fed's interest rate cut in September is a big deal, but in the crypto world, "good news" often turns into "bad news"! When the CPI data was good in July, ETH plummeted that day. This time, big funds might first sell off to absorb shares, waiting for retail investors to cut losses before pulling up.
Technical Analysis: MACD death cross, 4-hour moving average is pressing down. To break 4700, three conditions must be met: volume surpasses previous high, stabilizes for three days, and Bitcoin doesn’t lag behind. Otherwise, a correction is certain.
Operational Advice: Likely to oscillate between 4300-4700 before September. Set sell orders at the upper range and quick in-and-out at the lower range; if it drops below 4000, cut losses decisively and wait for stabilization at 3800. Be cautious in the week before the interest rate cut, beware of "rising early, then falling when the news comes out."
Self-check three points: Is your position over 30%? Can you withstand a 20% spike? Can you see through the manipulator's false breakout?
Remember: Bull markets rise amid despair and doubt, not by blindly chasing highs! Are you waiting for a harvest or a hunt?
Ethereum broke its historical high last night, and now Bitcoin is weakly oscillating, waiting for direction! I do not recommend you to build a position privately! Protect your capital; surviving means you can profit from the next big wave!
