News:
1. The US SEC postponed its decision on BlackRock's Ethereum spot ETF option trading application;
2. US President Biden said that the Federal Reserve is expected to continue to cut interest rates;
3. Turkey shelved additional plans to impose taxes on stocks and cryptocurrencies;
Technical aspects:
BTC: Since the Fed cut interest rates, the A-share market has also been V-shaped, coupled with the central bank's interest rate cut yesterday. The market in the Asian session in recent times has been obviously strong! This is also why I often say that you can be bearish during the day after the Asian session. After rising in the early trading on Monday, it quickly fell back and tested around 62,700 several times. Today's early trading rose again, with a small retracement, and it is currently standing at 64,000 points. From the 4-hour line level, it has risen from the previous bottom of 62,350 to around 62,750. At the daily level, it opened at the daily 7-day moving average. This week, the center of gravity of the K-line moved up, and the overall long arrangement was presented. The short-term market is expected to continue to rise, and the short-term target is tentatively set at around 66,000 points. In terms of intraday operations, the main focus is on retracement and bullishness. Focus on the support at 63800-63300 below, be careful of the downward pin to 62750, and focus on the pressure at 65000-65500 above!
ETH: Big cake and two cakes take turns to play, one strong and one weak, and are currently stuck near the top of the box oscillation in mid-August at 2700 points. From the weekly level, the three consecutive positive trends are relatively healthy, and the short-term target of 2800 points is relatively obvious. From the daily level, after the sharp rise on Monday, the technical side adjusted on Tuesday and Wednesday, repaired the gap, and waited for the moving average to move up. The K line was able to step back on the moving average to obtain support and then continue to rise. In terms of intraday operations, the main focus is on retracement and bullishness, focus on the support at 2630-2600 below, and focus on the pressure at 2710-2740 above.
Shanzhai: The AI sector continues to strengthen, and Grayscale has established an AI track fund. FET, near, and LPT have risen one after another. At present, there is still room for further rise, so you can hold the currency and wait for it to rise! Rune sector led by ordi, other sectors are relatively weak! In the Meme sector, floki is relatively stable, and there is still room for short-term growth!
The currency market fluctuates greatly, so you need to be cautious when entering the market. This is my personal opinion, no suggestions, just for sharing
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