News

1. The expected value of the number of initial jobless claims in the United States for the week ending August 24 (10,000 people) is 23.2, and the published value is 23.1

2. Yesterday, GBTC had a net outflow of 22.7 million US dollars, and ETHE had a net outflow of 5.3 million US dollars

3. The U.S. House of Representatives Financial Services Committee plans to hold multiple cryptocurrency hearings in September

4. Grayscale ETHE has lost 31% of ETH so far. The market is not active and the trading volume is extremely low

Yesterday's long orders were closed, and the hourly line of Ethereum reached a high of 2595. The reason for the decline in the market in the early morning today was that Fed Bostic said that inflation has not yet reached the Fed's target, and the interest rate cut continues to become confusing. The current Fed is like a bomb. Any good or bad news will drive the market up and down rapidly, and the outflow of spot funds will drive the contract market price down.

However, whether it is Fitch Ratings, Goldman Sachs or other observation agencies, almost all agree that the Fed will cut interest rates by 25 basis points three times in September, November and December. This requires us to pay close attention to the non-agricultural data to be released next week. Before the data, the market is expected to remain sideways on the daily line. After the current ether hourly line fell back from the early morning, it is expected to continue to fall in the morning. We will operate to catch the third wave (expected price retracement to 2505) and the fifth wave (target retracement price XXX) of the wave pattern, and then enter the market to rebound after the five waves are completed.

$BTC $ETH In the short term, you can arrange a wave of short orders