Preface: Investment carries risks, and operations should be cautious.
Article review takes time, and there may be delays in publication. The article is for reference only, welcome to read!
Article writing time: August 13, 15:47 Beijing time
Market Information
Bitcoin remains stable around $120,000, while Ethereum rises to $47,000 driven by Trump's remarks and expectations of a Federal Reserve interest rate cut;
The U.S. spot BTC ETF has seen a net inflow for four consecutive trading days, reaching $925 million;
The Central Bank of Belarus plans to introduce cryptocurrency payment regulations;
The Trump administration intends to reform the way employment data is reported;
U.S. Treasury Secretary Yellen: The Federal Reserve should consider a 50 basis point rate cut in September;
The S&P 500 and Nasdaq hit new highs, boosted by expectations of a Federal Reserve rate cut;
Market Review
Ethereum hits a new high, approaching its historical peak, with the current highest point at 4682. Bitcoin experiences short-term fluctuations, maintaining around 120,000, with a high point yesterday near 120,270. Bitcoin is in a fluctuating trend, while Ethereum continues to rise;
Market Analysis
Ethereum
From the daily chart, Ethereum's rise from 1384 to 4682 has not provided significant pullback opportunities. The previous resistance at 4100 has been broken, and Ethereum is now testing historical highs. Yesterday, we made a short position, expecting a pullback to enter, but unfortunately, the bullish momentum was too strong, leading to a renewed short-term high. For those who took a short position on Ethereum yesterday, it resulted in a small loss. Currently, it is not suitable to short Ethereum; its performance has been quite good. Previously, when Bitcoin was above 120,000, Ethereum's performance was weak, but now it can be seen as a catch-up. I believe the historical high of 4877 will not hold this time. Last night, the CPI data was released, coming in below expectations, and the inflation data met expectations, making a rate cut in September very likely. This news has also prompted Ethereum to rebound, and Ethereum is starting to rise. The future market will be dominated by altcoins, so during this period, everyone can pay attention to the movements of altcoins and look for opportunities to make some arrangements. In terms of Ethereum trading, it is advisable to go long and not short. Currently, do not chase at high positions; wait for a pullback to make arrangements, with the pullback point around 4300. This rebound of Ethereum is expected to reach around 5350-5400, so seize the opportunity to enter; for short-term trading, control risks and manage your own profits and losses;
Bitcoin
Yesterday, our Bitcoin entry point was around 11900, and we are currently in a small loss. The pressure around 120,000 remains effective on the daily chart, and the upper shadow line has not been broken. Even though yesterday's news was positive, Bitcoin did not provide us with a stop-loss point, so we continue to hold the short position. The rise of Ethereum has prevented Bitcoin from experiencing a deeper decline. The low point of yesterday's drop was at 118050. Bitcoin continues to target the 116000-114200 range, so seize the opportunity to enter; for short-term trading, control risks and manage your own profits and losses;
In summary:
Ethereum is strongly rising, while Bitcoin continues to fluctuate. In the short term, pay attention to the movements in the altcoin market;
The article is time-sensitive, be aware of risks, and the above is only personal advice for reference!
Follow the WeChat public account Crypto Lao Zhao to discuss the market together;
"In life, one should enjoy to the fullest, do not let the golden cup face the moon empty, cook sheep and slaughter cattle for joy, one must drink three hundred cups at once." Always retain Li Bai's boldness, "Cen Fuzi, Dan Qiu Sheng, let’s drink, do not stop the cups." Always have brothers with whom you can talk about anything. Cheers to life, cheers to the past, keep it up, every person in the crypto world.
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