August is coming to an end, what kind of storm will the market stir up in the last week?
Today, Bitcoin and Ethereum both slightly retraced, and the secondary market generally weakened. This kind of fluctuation is quite normal, after all, Ethereum just broke through its historical high, and the bull market space for mainstream altcoins has only just opened up.
How will the market trend in the future? Let me share my thoughts.
First, Powell has turned dovish, and the expectation of lower interest rates is becoming clearer, with the U.S. stock market also showing strength.
In the crypto market, Bitcoin rebounded sharply after a false break below 112000 last week, and Ethereum broke through its previous high with significant volume. Due to the rapid rise, a slight pullback is needed to correct the indicators.
But the overall trend is very clear: the lower lows have been confirmed and are unlikely to return. Buying on dips is the best strategy going forward.
Technical structure: The double dragons of Bitcoin and Ethereum are in a tug of war.
Bitcoin (BTC): The daily W-bottom structure has formed, and whether it can continue to break through will determine if the fourth wave has ended and if we enter a new fifth wave rise.
Ethereum (ETH): It has already set a new historical high but has not stabilized yet. A short-term consolidation before breaking new highs is just a matter of time. The ideal trend is to pull back to the previous high and turn it into strong support, which would be healthier.
In other words, the trend of Ethereum will directly dictate the rhythm of mainstream altcoins.
Mainstream altcoins: Funds are shifting direction.
In addition to platform coins like OKB and BNB, coins with October ETF expectations have been very active this week.
#SOL: It has broken out of the descending channel and is preparing to challenge the key resistance at 220. I think it's not a big issue, and we could see 250. Swing traders can reduce their positions in batches at 220 and 230, and buy lower.
#RAY: Its trend is stronger than SOL. 4.15 is a short-term selling point, and it can basically follow SOL's rhythm.
#PEPE: After a false break of the triangle, it rebounded with significant volume, rising by up to 19%. The MEME sector is still in a descending channel overall, but once it breaks through, the potential is huge. Personally, I still see at least a doubling, targeting 2000+.
#SUI: Similar to PEPE, the key is still to break out of the descending channel.
As for BNB, it recently announced the launch of a $1 billion strategic reserve fund, which adds another layer of protection.
So, BTC, ETH, and BNB are stable leaders, and dollar-cost averaging into them may be safer and more reliable than 90% of altcoins.
On-chain opportunity: Pay attention to the new platform XLayer
In addition to mainstream coins, I am also paying attention to new stories on the chain. Do you remember the meme craze on the SOL chain? PumpFun created a batch of hundredfold myths, followed by BonkFun's relay. The logic is quite simple: for a platform to develop, it must create a wealth effect to attract users.
Now I see some similar opportunities on the XLayer chain, such as the newly launched platform pig.meme:
In addition to the regular curve launches, a fair launch model has been introduced, bringing everyone's costs closer together.
Every time a meme is launched, 4 OKB will be permanently burned; this mechanism may receive official support.
My judgment is: for platforms to go mainstream, they must promote a few leading memes. Getting in now may lead to betting on a hundredfold target.
Summary
The interest rate cut in September is basically a done deal; the market is not lacking in funds or liquidity. The crypto world has never lacked wealth creation myths, but what is lacking is the ability to understand trends, whether one dares to take heavy positions, and whether one can hold on.
ETH is just a step away from 5000; funds are gradually flowing from BTC into ETH and altcoins. In the later stages of the bull market, BTC's market share will only decrease, and opportunities will be more in quality coins like SOL, PEPE, ADA, and SUI for catching up.
Remember: opportunity always favors the prepared.
The market comes in waves, and it's easy to get lost when going solo.
If you want to seize the next wave of doubling opportunities, feel free to join my circle and exchange ideas with a group of old friends! Let's take fewer detours and outperform in the next bull market!
