Sell orders are concentrated, and the price of the currency is struggling to rebound mainly for shorting! 8.26 Bitcoin Aunt's Thoughts

Powell's speech at the Jackson Hole conference was seen by the market as a "dovish" signal for monetary easing. However, Powell's remarks did not provide strong guidance on the sustainability and extent of interest rate cuts, but merely clarified the adjustments in the Federal Reserve's policy—namely, that when employment risks exceed inflation, the Federal Reserve tends to lower interest rates. If inflation risks surpass employment, Powell would halt interest rate cuts or even raise rates.

After two days of calm over the weekend, U.S. stocks slightly rose on Monday before falling again. By the close, the Dow fell by 0.76%, the S&P 500 index dropped by 0.43%, and the Nasdaq fell by 0.2%. The Bitcoin daily line once again formed a large bearish candlestick, with a long lower wick, the price broke below the lower Bollinger band, and a rebound for correction is expected during the day, so let's first look for a rebound! The upper pressure levels to watch are 113000, 113600, 115000, 116000, 117500, 118500, 119200, and 121000, while the lower support levels are 109000, 108300, 107400, and 105000. For Ethereum, the upper levels to watch are 4470, 4570, 4680, 4820, 4890, and 4960, while the lower support levels are 4330, 4300, 4200, 4100, and 405.

8.26 Bitcoin Short Strategy: Aggressive traders enter short on a rebound at 112500-113000, while cautious traders enter at 113500-114000, with a stop loss near 115000, targeting around 111000-110500-110000, and if broken, look for around 109500-109000, continue to move the stop loss based on the situation!

8.26 Ethereum Short Strategy: Aggressive traders enter short on a rebound at 4450-4480, while cautious traders enter at 4530-4570, with a stop loss near 4640, targeting around 4400-4350-4330, and if broken, look for around 4300-4250-4200, continue to move the stop loss based on the situation!

Long Strategy: Aggressive traders enter long near the current price of 109000, while cautious traders enter at 108000-108500, with a stop loss near 107200, targeting around 110000-111000, and if broken, look for around 112000-112500, continue to move the stop loss based on the situation!

Aggressive Ethereum traders enter long at the current price of 4320-4350, while cautious traders enter at 4200-4250, with a stop loss near 4170, targeting around 4400-4450, and if broken, look for around 4500-4550, continue to move the stop loss based on the situation!

Bitcoin's persistent struggles are mainly due to a large amount of selling pressure. Although bearish on Ethereum yesterday, the intensity was unexpected. After catching a rebound in the evening, entering long again was regrettably stopped out! Everyone, please be cautious when bottom-fishing!