8.22 BTC, ETH evening analysis:
Whether to cut interest rates in September will be a key factor in the range breakthrough
The market fluctuates upward during the day, and the strategy is almost the same as last night. The market is currently moving in a rising wedge-shaped triangle range, and the general direction is bullish. Although the market crashed in the morning, it does not affect the overall trend. Basically follow the ideas of the post to sell high and sell low. Suction can take up part of the space. Tonight, we will focus on the minutes of the Federal Reserve meeting at 2:00 in the morning. If there is a clear signal to cut interest rates, it will break through the range and rise, and the direction will be very clear, so go long on dips.
Judging from the 4-hour chart of Bitcoin, the market closed at the low point and extended the trend line to move up the wedge-shaped upward channel, and failed to break through the resistance 61500 for a total of 7 times. Once the market directly breaks through the upper resistance line in the evening, the direction is basically bullish. The 4-hour technical indicators KDJ and MACD both crossed and reversed downward, indicating a strong bearish outlook in the short term. Combined with the hourly line, the upper pressure level is 61500 and the lower support level is 59600, which may be broken. Since the general direction is bullish, it is safer to focus on low and long.
BTC evening strategy: more than 59200-59700
EHT evening strategy: more than 2555-2575
