Zhou Yanling: Increased Expectations for Interest Rate Cuts on August 31, Planning for Next Week's Cryptocurrency Market Trends
Last week, the overall trend of cryptocurrency prices was downward. Currently, the market is most concerned about the increasing expectations for interest rate cuts as September approaches. Therefore, the market movements next week are particularly important. If there is an upward breakout driven by the news of interest rate cuts next Monday, the bullish momentum could be significant, potentially leading to new historical highs. Conversely, if the market opens high but then declines continuously, there is a risk of a black swan event. Thus, this September presents both opportunities and potential traps for the cryptocurrency market. It is crucial for everyone to implement risk control measures and avoid blindly following the crowd.
Currently, looking at the market trends, Bitcoin has experienced a significant decline recently and is now forming a short-term consolidation pattern. The candlesticks for August 30 and 31 are small bearish candles, indicating weak market sentiment, but there are no clear signs of a trend reversal. On the hourly chart, a short-term descending channel is forming, with both highs and lows decreasing, suggesting that bearish forces are dominant. The MACD on the hourly chart is below the zero line, with the fast and slow lines diverging downward. The red histogram is weakening but still has some strength, indicating that bearish momentum has not been fully released. The RSI on the hourly chart is around 46, not in the oversold zone, but overall it is weak, indicating insufficient buying power. The EMA on the hourly chart shows a death cross between the 7 and 30 moving averages, with prices repeatedly hitting resistance at the EMA7 and falling back. The EMA120 is far from the current price, further confirming the short-term bearish trend.
Zhou Yanling's Bitcoin Trading Strategy on August 31:
Short at 110500-109500, stop loss above 111500, target around 107500, continue to look for a decline towards 105000.
Long at 107700-108500, stop loss below 106500, target 109500-110500.
Zhou Yanling's Ethereum Trading Strategy on August 31:
Short at 4530-4490, stop loss above 4580, target 4375-4330, continue to look for a decline towards 4260.
Long at 4320-4370, stop loss below 4280, target 4450-4500.
【The above analysis and strategies are for reference only. Please bear the risks yourself. The article's review and publication may have delays, and the strategies may not be timely. Specific operations should follow Yanling's real-time strategies.】
This article is exclusively shared by senior analyst Zhou Yanling (WeChat public account: Zhou Yanling). The author has over ten years of experience in financial market investment research, currently focusing on analysis and guidance for BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV, and other cryptocurrency contracts/spot operations. The author has a solid theoretical foundation and practical experience, excels in combining technical and news-based operations, emphasizes capital management and risk control, and is recognized by many investors for a stable and decisive trading style, along with a friendly and responsible personality.
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