Master Discusses Hot Topics:

It is said that this time, Chuanzi is really capable, directly signing an executive order to allow alternative assets such as private equity, real estate, and cryptocurrencies into the 401(k) retirement savings plan. You understand the significance of this; it has opened the $12.5 trillion retirement fund door for these industries.

The importance is no less than the approval of spot ETFs, and it may even be more intense. The total scale of 401(k) plans is close to $9 trillion, and even if only 10% is allocated to the crypto market, it could directly lead to a repricing of Bitcoin and Ethereum's market value system.

Although this is currently just Chuanzi's proposal and is limited to compliant ETF products, the characteristic of 401(k) plans is long-term holding without much fuss, which naturally supports the transformation of crypto assets from high volatility to value storage tools.

Recently, many people have been spreading rumors that BlackRock is panic-selling Bitcoin and Ethereum. From July 30 to August 5, there was indeed a significant outflow from ETFs. But you need to understand that outflow does not equal selling.

BlackRock transferred 300 BTC at a time to Coinbase Prime, which is not the same as Coinbase; Coinbase Prime is specifically for institutional OTC trading and does not affect market prices at all.

To truly determine whether they are selling, one must look at the situation of transfers from Coinbase Prime to Coinbase's hot wallet. Upon investigation, only a portion of Bitcoin went to the hot wallet in the past few days, which is the actual selling.

Thus, last Friday, there was a drop from 118.9K to 111.9K; at other times, there was no large-scale dumping. Many people are still panicking without thinking, bearish and expecting a correction, which is a typical case of cognitive failure.

Returning to the market, after Bitcoin broke through 116.6K, 115K has become its stepping stone. The next step is to push towards 120K, and then revisit the previous high of 122.3K. I mentioned last month that as long as there is no interest rate hike on July 31, August would continue to rise, and the current trend is completely in line with my expectations.

In my analysis yesterday, I also mentioned that those who think a significant market movement will only happen with a rate cut in September might be disappointed. I actually see a pullback from late August to early September, which presents a medium to long-term accumulation opportunity.

Additionally, Ethereum is really strong, breaking through the mid-line and directly slapping those who say the coin-stock model has run out of money. But don’t celebrate too early; it has now reached the core supply zone, which is also the upper edge of the oscillation channel.

The key is whether it can break through. It has already tested this position twice before, and the probability of breaking through this time exceeds 50%. If successful, it will directly rise to the average pressure zone of 4100.

Even more intense is the monthly golden cross for Ethereum, which is the third reminder. As long as it stabilizes above 3800 in the next few days, the medium-term trend will head straight for 4880 to 5000, directly challenging the previous bull market high. Therefore, the range of 3800-3880 is likely to be the starting point for the next big wave of market movement.

My medium to long-term target is very clear: Bitcoin's target by mid-November is 135K to 138K, then 142K, leaving a 15% position to aim for 148.8K or even higher.

For Ethereum, the target is 4880 to 5136, with no firm target above 6K yet, leaving a 20% position to try and chase higher. A pullback in September is a good thing and an opportunity; don’t panic when there’s a drop. The market often scares away a bunch of retail investors before taking off again!!!

Master Looks at Trends:

Resistance Level Reference:

Second Resistance Level: 118000

First Resistance Level: 117400

Support Level Reference:

Second Support Level: 116400

First Support Level: 115700

Currently, the price is in the pullback phase after breaking through the long-term downward trend line on the 4-hour chart. If it breaks through again and stabilizes, it can be seen as a successful trend reversal. To maintain the short-term upward trend, 116.4K can be set as a key support level.

Attention should be paid to the 200MA trend below, maintaining a rebound mindset. 117K can be set as a short-term psychological resistance level; if it breaks through again, the expectation for further upward movement will increase. 115.7K is also an important level that must be defended; if it breaks, short-term bears will regain dominance.

The first resistance at 117.4K is the previous high on the 4-hour level, a newly formed resistance level that must be broken again to expect a push towards 118K and increase the likelihood of continued upward movement.

The second resistance at 118K is a psychological resistance level; if it breaks and stands above the previous downward trend line, it is expected to open up further upward space.

The first support at 116.4K is the key support to maintain the short-term upward trend, and it is best not to break it again. This position is the previous low area after the earlier rise and is also a good risk-reward ratio area.

The second support at 115.7K is a position that the current bullish trend must defend; if it is lost, the pressure for a pullback will increase. If a rapid decline occurs, a lower shadow line may form here, which can be seen as a potential entry opportunity. After a significant rebound in the market, buying sentiment has clearly rebounded, so the main operation should still follow the rebound mindset.

8.8 Master’s Band Trading Setup:

Long Entry Reference: Accumulate in the range of 115700-116400, Target: 117400-118000

Short Entry Reference: Not currently applicable

If you truly want to learn something from a blogger, you need to keep following them, rather than making hasty conclusions after just a few market observations. This market is filled with performers; today they screenshot long positions, and tomorrow they summarize short positions, making it seem like they "always catch the top and bottom," but in reality, it’s all hindsight. A truly worthy blogger will have trading logic that is consistent, coherent, and withstands scrutiny, rather than jumping in only when the market moves. Don’t be blinded by exaggerated data and out-of-context screenshots; long-term observation and deep understanding are necessary to distinguish who is a thinker and who is a dreamer!

This article is exclusively planned and published by Master Chen (public account: Coin God Master Chen). If you want to know more about real-time investment strategies, solutions, spot trading, short, medium, and long-term contract trading techniques, and knowledge about candlesticks, you can add Master Chen for learning and communication. A free experience group for fans has now been opened, along with community live broadcasts and other quality experience projects!

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