Weekly Review for August 11
August 11
Binance Alpha will launch SatLayer (SLAY) on August 11;
Binance Alpha will launch Xeleb Protocol (XCX) on August 11;
August 12
The United States will release July CPI data on August 12 at 20:30;
August 14
The United States will release July PPI data on August 14 at 20:30;
August 15
SharpLink will hold a conference call to disclose its second-quarter financial report on August 15;
Others (specific time not determined)
Trump plans to meet face-to-face with Putin as early as next week;
Trump states that a new tariff policy on chips will be introduced next week.
BTC
As mentioned yesterday, we are about to see Bitcoin and Sol take turns performing. After yesterday's discussion, it broke the downward trend line and has now returned above 120,000. Currently, we need to pay close attention to Bitcoin at this position, particularly as the daily level is gradually starting to rise. However, this also poses a risk for the future, as if the daily level does not have consecutive bullish candles to drive it up, it may form a divergence at the daily level. Looking at the current market, the overall trend is bullish, so we need to watch if it can stabilize above 120,000, moving around 123,000. Personally, I believe there shouldn't be too many issues. It's early August now, and the market is betting on interest rate cuts in September. If the rate cut in September can bring a wave of liquidity to the market, it will support 120,300-118,300 and face resistance at 123,000-125,000.
ETH
Ethereum remains very strong, as it has now moved into the bullish zone at the weekly level, and the monthly level has also formed a golden cross. Most importantly, Ethereum's exchange rate is currently very strong, indicating that it has not finished rising. The overall direction remains upward, and as long as this position can stabilize above 4,300, it will move around the range of 4,800 to 5,000. However, there are also short-term risks at the daily level because if this position does not have continuous bullish candles to drive it up, it may easily form a divergence. Personally, I believe that a pullback in Ethereum is an opportunity; the deeper the pullback, the greater the opportunity, with support at 4,190-4,050 and resistance at 4,400-4,487-4,640.
SOL
Patiently wait for a rebound.
