8.15 Market Sharing
Technical side:
When the monthly line closed at the beginning of August, it was reminded that there would be no big market fluctuations before the middle of the month. Now it is the middle of August, just as our market expected! August plays a role in connecting the past and the future. At present, after reaching the corresponding high point in March, it has experienced a five-month consolidation. From the perspective of market sentiment and market liquidity, it has indeed reached a corresponding low point. At this time, we should focus on whether the people and institutions on Wall Street have absorbed enough chips. The 61600 level mentioned above has been mentioned for the past two days. If this position cannot be broken upward, we still need to pay attention to the risk of short-term retracement. At present, it has been consolidating in this range. The short-term long-short dividing line below is 58400, which may support 57000-54600. Again, if the daily level quickly falls, it is an opportunity for us. Ethereum is also combined with the overall rebound of the market. It is also maintaining the range of 2640-2755. Focus on the short-term support below 2643 and break through 2530. News: After the data was released last night, CPI was lower than expected, which was positive, and then there was a wave of retracement! There are several reasons: (1) The CPI report shows that rents are rising at an accelerated rate, indicating that inflation is still a bit high. The Federal Reserve is likely to choose to slow down the pace of the first interest rate cut and then consider a larger interest rate cut. (2) Iran's banking system suffered a large-scale cyber attack. Initial assessments show that this may be one of the largest cyber attacks on Iran's national infrastructure. (3) Some of the BTC transferred by Mentougou have been continuously shipped during this period, which will also bring selling pressure to the market. 33,105 BTC were transferred from the wallet address of Mentougou, with a value of approximately US$1.97 billion. The US government marked address transferred 10,000 BTC confiscated from Silk Road to the Coinbase Prime address, with a value of approximately US$593.9 million.
