Family! The overnight Bitcoin directly broke through 111,000, while gold soared to 3,380. What’s going on with this stark contrast? Let’s first look at the overnight trends! The market has finally realized that Powell's interest rate cuts are not that easy to implement, and institutions have collectively turned bearish. Even more explosive is Trump, who has moved to dismiss Federal Reserve Governor Cook, forcing the Fed to cut rates. This action has directly heightened market risk aversion, causing Bitcoin to drop to 111,000 as expected, while Ethereum also faced pressure, falling to around 4,300, whereas gold surged to 3,380.

Now, let’s focus on today’s key data; three major signals must be noted: the U.S. July durable goods orders month-on-month at 20:30, the June FHFA house price index month-on-month at 21:00, and the August Conference Board consumer confidence index at 22:00. Each of these could trigger market movements, so keep a close watch!

On the technical side, let’s highlight two assets. First, Bitcoin: the weakening trend at 124,300 hasn’t changed, with central resistance between 115,770 and 119,900. It has now broken down and is under pressure, showing signs of breaching the 110,000 level, with demand still heading south. In the 4-hour chart, a sequence of K-lines has appeared, and the MACD has a death cross with room to decline. The momentum bars are below the zero axis, so avoid long positions decisively. It’s recommended to short around 111,600, with a stop loss at 111,900 and targets at 100,000, 105,000, and 107,500.

Next is Ethereum: although it previously reached a new high, a downward structure has now formed, and the test at 4,330 has been completed, indicating further declines ahead. In the 4-hour chart, PB and consolidation K-lines have appeared, suggesting that the correction is not yet complete. After the MACD death cross, the fast line crossing the zero axis has no support, and the momentum bars are also below the zero axis.

For operations, here are two long opportunities: a short long near 4,342, with a stop loss at 4,310 and a target of 4,413; additionally, a long near 4,200 is also viable, with a stop loss at 4,185 and a target of 4,250 to 4,300.

Finally, I want to emphasize again! Always use a stop loss when opening positions; absolutely do not enter without one! If you encounter issues like being stuck in positions or holding onto them, you can follow the public account: KK Communication.

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