Tracking real-time hotspots in the currency circle, seizing the best trading opportunities. Today is Sunday, August 27, 2023. Welcome to follow Yibo's coin analysis. I am Yibo! We do not predict trades, but actually observe market fluctuations (narrowing, diffusion), structure (market batch structure), and sentiment (external market such as US stocks, US dollars, etc.). As a trader, you (through trading) affect prices, and prices also affect your emotions and behavior.
On Friday, Powell's speech at the Jackson Hole Global Central Bank Annual Meeting stated that the process of reducing inflation still has a long way to go, opening the door to rate hikes, but will proceed with caution. Powell warned that inflation is still too high, explicitly stating that "if the economy and job market do not cool down, rate hikes will continue." The market's expectation of another rate hike this year has increased, but it is expected that the rate hike in September may be lower. The Fed may maintain high interest rates until next year. Compared to the mid-term situation in the cryptocurrency market, the market will still be overshadowed by clouds in the third and fourth quarters! The current news balances the situation during the news vacuum period, which is meaningless. This will not change the mid-term adjustment of US stocks. Bitcoin has not changed for many days. We won't talk about the bottom here, it's still the same. The weekend market is quiet, with little volatility. Let's see if we can find a bottom next week. Most of the altcoins are oscillating after the 2nd probe, and it won't be clear for a while. We need to wait until October to see the ETF news and see Bitcoin's attitude towards 24800. Most likely, there won't be much action at this time, so it should be considered as oscillation for now. Altcoins may rebound in the next few days, but it depends on Bitcoin's attitude.
The weekend's volatility is still weak, maintaining a narrow range in the daytime. In the weak market, the current trend strategy is mainly based on short-term layout and then following the bearish trend. At any stage, ranges and trends complement each other. Ranges determine the direction of the trend, and only by recognizing and confirming the trend direction in any small cycle, while continuously laying out and waiting for the contraction of the trend, can one be prepared at all times, have self-awareness, and be involved in practice, rather than just watching and listening, indulging in imagination.
August 27th ETH morning trading plan:
Review: The market has been oscillating for a day. The overall trend over the weekend is still in a state of oscillation. After a sharp decline in the market, it is currently in a state of bottom absorption and oscillation. Although there was a rebound after the downtrend last night, it did not continue during the day. Ethereum is still oscillating in the 1680-1630 range. In my previous live broadcasts, I mentioned that 1680-1720 is the bullish area and 1630 is the bearish chip concentration area. From the overall market perspective, there is no clear action from the bulls or bears, so the pressure from above is still quite obvious. On the four-hour chart, the market volatility is gradually decreasing, the MACD is bullish with no volume, the candlesticks are continuously positive but lack volume, the rebound is weak, and 1655 is clearly suppressed in the short term, with a need for a downward retracement, but it is not expected to have much room. The daily chart is once again closing negative. If it can close below 1630, there is a chance to test the support near 1580-1550. With little short-term volatility, shorting should be the main focus.
Trading suggestion: Enter short positions in the 1660-1680 range, with a stop at 1700, and targets at 1640-1620-1600!
August 27th BTC morning trading plan:
Review: The market has been familiarly oscillating on Saturday, and there hasn't been much room for us during the day. After briefly dipping to around 25800, there was a small rebound in the bulls, with the highest point of the day only reaching around 26100, entering a small-scale oscillation. Currently, the coin price is oscillating around 26000. Looking at the daily chart, the solid candle has had three consecutive declines and is currently running near the lower band. The Bollinger Bands are in a claw-like shape, with a downward opening trend. It is still in a situation of oscillation and correction. Although the bulls have had a small rebound, the strength has not been enough, and the red bullish energy bars are gradually decreasing. The bears have also entered a state of accumulation, and most of the time, the main character has been the bearish candle. Looking at the four-hour chart, the coin price has been running around the middle band, and the bulls have attempted to break through the middle band several times but have been suppressed back down without much strength, mostly running below the middle band. The KDJ indicator has all shown a downward trend, and the bullish energy bars have been reduced to the extreme. The coin price will most likely go down before the bulls have room to move up. Looking at the hourly chart, the coin price has been running on the middle band, with three consecutive bearish candles, the Bollinger Bands are parallel and narrowing, the KDJ indicator has shown a death cross, and the green bearish energy bars are gradually increasing. Therefore, our strategy should still focus on short positions.
Trading suggestion: Enter short positions in the 26200-26400 range, with targets at 25800-25500, and a stop at 26600.
A thousand words are not as good as one profitable trade. Instead of repeated failures, it's better to come to Yibo! Frequent operations are not as good as precise ones, making every trade valuable. All you have to do is find Yibo, and what we have to do is prove that our words are not empty. May our acquaintance begin with words, match in character, be trapped in technology, last in kindness, and end in character. (For friends who are still confused about operations, you might as well take a look at Yibo's strategies. Real-time guidance for 24 hours, the market fluctuates quickly. Due to the impact of review timeliness on the subsequent market trends, real-time layout based on actual trading is the main focus. Coin friends who need contract guidance can scan the QR code at the bottom of the article to add my public account)
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