Market Chat (Evening of August 22)

Yesterday, after Bitcoin and Ethereum once again dipped and confirmed the bottom range, the bottom-seeking market has truly come to an end; what follows is a rebound and a second dip, which will operate within the bottoming range, thus essentially defining the area around 119,000 as the first bottom; bottoming will still require some time, and the arrival of the second dip will be the best position for bottom fishing.
Everyone knows that tonight is a very important turning point. At 10 PM Beijing time tonight, Powell will speak at the Jackson Hole Global Central Bank Annual Meeting to look for signals regarding the Fed's recent interest rate outlook. Tonight will be Powell's last appearance as the Chairman of the Federal Reserve at this central banking event, as his term will expire next year.
Brothers! It's time for "a single sentence to determine life and death" again! In my opinion, interest rates will definitely be cut in September. Now all sorts of ghosts and monsters are jumping out to voice their opinions, and the fundamental purpose is actually to stir the waters. In short, it's still the same game of expectation management. I remember before last year's interest rate cut, it was also manipulated back and forth like this, constantly throwing smoke bombs to exhaust emotions before the real interest rate cut arrives. However, this is actually quite good, as it can create volatility and provide opportunities for those who truly understand.
Tonight, we will be live streaming, waiting for Federal Reserve Chairman Powell to speak. At 22:00 tonight, we look forward to this wave of plummet, aiming together for the opportunity to get rich by buying the dip!
BTC has broken through 112,000, testing the 112K range for the second time to stop the decline. The weekly MACD for BTC is about to form a death cross, and on the daily chart, it has formed a bearish engulfing pattern. There is a demand for further adjustment in the market, but this does not necessarily mean it will continue to decline. BTC is currently at a key support level, which may still trigger a rebound.
Currently, BTC has reached a key reversal point. The descending trend line above is gradually approaching, and the distance to the previous low of 111,900 is not far. It is expected that BTC must give a direction, and the following possible situations may arise:
A. If there is a strong breakout with volume, after a pullback confirmation, we can follow up and go long;
B. If it is a false breakout or drops directly back, it is highly likely to continue weakening.
C. I personally think that a "dead cat bounce" is more likely to occur, which means a short-term rebound. The target for the rebound is roughly to recover after breaking the 111,900 level and rebound to 120,000. If it fails to rebound and directly breaks down, then decisively pursue short positions. Short-term support points: EMA30: 111,400, and then weak support near the 110,000 level: 2-day EMA 52: 110,295. The support after breaking these two positions would be around 107,450. Place buy orders near the support level, and the closer it gets to the 110,000 level, the less you should pursue short positions.
Ethereum is overall stronger than Bitcoin, but constrained by BTC's movements, it cannot currently break out into an independent market. The oscillation range is 4100-4350. ETH's current K-line is about to stand above the 7-day line. The last time ETH stood above the 7-day line, it surged significantly. It is expected that after the speech ends, as long as it meets expectations, it will surge. The 7-day line position is 4350! Still maintaining a bullish outlook!
ETH may also have the following possible situations:
A. If it breaks 4350, it will continue to rise for a while to above 4550.
B. The area around 4600 is an important resistance level, you can short.
C. The daily support below is 3890-4100, and this range has high cost-effectiveness for buying. Ethereum spot ETF had a net inflow of 288 million USD yesterday, ending a continuous net outflow for 4 trading days, which indicates a recovery in buying pressure for the Ethereum ETF, making the probability of Ethereum breaking upwards in the short term greater. My personal strategy suggestion is: Strategy: Buy on dips around 4200, 4100, 4060.
Finally, let's talk about the platform token that was strongly recommended earlier. Congratulations to those who got the results. Due to sensitive words, I can only use a certain B to replace it. Whether you are taking profits after joining halfway or holding on to its value for the long term, we all believe this is a good target. However, it is essential to protect your principal. Only with the principal in hand can you go far and steady.
I personally believe that a short-term adjustment and consolidation of some B is unavoidable, and after the price drops, one should be bold in buying. Currently, there is a very obvious problem with some B: it is overheated. There is too much external capital, and retail investors are rushing in too aggressively. This will disrupt the original plan of the market makers.
If we want to achieve a larger pump and higher targets in the future, we must first wash the chips and hold the chips to ensure control over them, and then move towards higher targets. We are currently still holding, and let's talk about our escape expectations:
Interval 1: Around 400-500 USD, Ala believes this is a relatively reasonable price range, with a market cap ratio of about 1 billion USD. Certain B will no longer be a platform token in the future, and the core valuation is roughly around here!
Zone 2: Around 1K-2K USD, A-la feels that if the target wants to look here, it needs to bet on Lao Xu's pattern. Currently, Lao Xu's control over the supply is completely sufficient for such operations, with the right time, place, and people.
For myself, I will no longer increase my position or try to catch the bottom; I will treat it just like any other ordinary cryptocurrency! I hope everyone stays calm. Although the probability of this coin cutting retail investors is very low, it's still wise to be cautious!
Writing is not easy. I hope you are willing to pay attention to me and subscribe to me for a small amount of 0.21GT. I will do my best to give you a return. Long-term subscriptions will also have a 30% discount! In the future, I will regularly share valuable timely information, high-risk-reward wealth codes, and my personal operational insights in live broadcasts and dynamic articles. For just a few dozen bucks a month, you definitely won't be at a disadvantage!
See you in the live broadcast room tonight!