7.18 The Fed is open to a rate cut in September, the Bitcoin bull market is coming, and ETH is aiming at $5,000?
News review: The total market value of cryptocurrencies evaporated by $33.4 billion in the past 24 hours, BTC fell by 2.15%, with an amplitude of 3.47%, and the market sentiment was greedy. Fed Governor Waller changed his position and was open to a rate cut in September. The inflow of funds from Ethereum spot ETFs will push ETH to break through $5,000. Bitcoin solves the divisibility and "inconvenience of carrying" problems of gold.
Grayscale: Market sentiment has changed due to expectations of a more favorable regulatory environment. The price of Bitcoin rebounded sharply after the initial sell-off caused by the sale of confiscated Bitcoins in Germany. Grayscale believes that due to the expectation of a more favorable regulatory environment, market sentiment has changed, boosting investors' confidence in the future of cryptocurrencies.
Bitcoin has seen an upward spike during the day, and the price may need to fall back and support in the short term. In the 1-hour view, the K-line began to fluctuate in a narrow range after the middle track Bollinger band spikes up and down. In the short term, there are signs of upward pressure of 65,000. The current pressure is still very strong. The previous multiple spikes did not stand firm. Wait for the high to fall back and test the bottom support before taking more, and keep the low-multiple thinking. The general trend is still optimistic about the bulls.
Ethereum 1-hour market spike rebound to test the middle track of the Bollinger band and was suppressed. The current Bollinger band trend is a bit biased to turn down. In the 4-hour view, the Bollinger band is slowly shrinking, the price is constantly oscillating and testing the middle track, the MACD dead cross slowly increases, and the KDJ three lines turn downward and diverge. In the short term, the price still needs to test the support downward. For friends who want to layout, I suggest waiting for a callback before entering the market. It is safer.
BTC operation suggestions:
Step back to 63,500-64,000 Go long, target 65500-66500, break 67500, stop loss 62900
ETH operation suggestions:
Go long when it falls back to 3350-3380, target 3460-3560, break 3640, stop loss 3310 Real-time guidance WeChat: btc0798
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