2024.8.18 Market Analysis

News: Today's Fear and Greed Index is 31

1. Yesterday, the U.S. Ethereum spot ETF had a net outflow of $15 million and a trading volume of $185 million.

2. Tether CEO predicts that brain-computer interface technology will become a mainstream consumer product in the next 20 years.

3. 12,675 ETH were transferred from an unknown wallet to Coinbase.

4. Since the launch of SunPump, 4,844 Meme coins have been created on Tron Network

5. Federal Reserve Chairman Powell may make hawkish remarks at the Jackson Hole Central Bank Annual Meeting.

6. CME Federal Reserve Observation: The Federal Reserve's 25 basis point interest rate cut in September is a foregone conclusion, and the probability of a 50 basis point interest rate cut has dropped to 25%;

Technical side: The trend of the big cake is stagnant, and it continues to fluctuate sluggishly. Since hitting the bottom of 49,000 last week, it has pulled back 10,000 points so far, but has failed to break through the key pressure level. From the monthly line, August closed with a negative line. The weekly level still has not been corrected, and the MACD fast and slow lines have not crossed the zero axis or turned around. It is expected to take about 3 weeks. The daily level is in the ant downward channel around the 200-day moving average, and it is digesting through time. The longer the shock, the better. The four-hour level is also suppressed by the 200-day line, and it is very weak. There is no hope for a short-term reversal. This month is basically like this. Spot wait patiently! The support of Bitcoin is around 56,000, and the pressure is around 61,200. The support of Ethereum is around 2505, and the pressure is around 2830. #BTC