August 8 Market Analysis
ETH and some altcoins are currently in a bullish trend on the 4H, daily, weekly, and monthly charts. Although BTC has not yet broken through its daily lifeline, it is not a question of whether it can break through, but rather when it will do so;
Given this situation, continue to hold your spot positions without any unnecessary actions, and get off at the destination (or at the right time). Do not consider shorting contracts; there will be adjustments with bearish candles in between, but these bearish candles provide opportunities to enter, not to short. It’s important to recognize the mainstream trend. (This mindset can continue until the end of September without change. When you feel confused, just take this statement out and read it.)
Regarding interest rate cuts: From the increase in April until now, it can be said that this is a realization of the expectations for interest rate cuts. After the rate cut is implemented, it is actually the time to do subtraction. Many people find this difficult to understand and believe that after one rate cut, there will be a second and third. The first cut is still effective for the market, but the second and third cuts have diminishing effects, and in the long run, they become bearish.
