Russia is about to start trials of crypto payments and exchanges
According to foreign media reports, Russia is about to start trials of cryptocurrency exchanges and use digital tokens in cross-border transactions to help ease payment difficulties for Russian companies hit by international sanctions. Two people familiar with the matter said the trials will begin on September 1. They said that when testing payment and trading platforms, Russia will use the national payment card system to exchange between rubles and cryptocurrencies. In July, the Russian parliament passed bills legalizing cryptocurrency mining and a framework allowing the testing of digital tokens for cross-border payments under the supervision of the central bank. Russian President Vladimir Putin signed the bills into law on August 8. The cryptocurrency trials come as Russian companies face increasing obstacles in paying overseas suppliers and getting paid for exported goods.

8.28 Bitcoin Analysis Reference
After yesterday's narrow range fluctuations, Bitcoin fell straight down this morning to around 57,900, but did not actually fall below the support level of 58,000. 5 has temporarily shown signs of stopping the decline.
According to the current 1h, it is currently in the b-wave adjustment period of the third downward wave, and there is no absolute weakness in the daily structure. Do not chase the direction for the time being, and focus on low-multiple.
More than 58,500 points in the day, defend 800 points, and target around 60,000

Short-term operations can only become a tool for making money. It is difficult to achieve great things, and there will always be a day when they return to zero. Some people obviously have enough funds, but they choose the way to enter the market that is most likely to be eliminated by the market!
Picking up sesame seeds and losing watermelons is probably like this. They give up a bright future and choose to wander on the edge of death!

The short-term trend of the small cycle is just an appearance. The main force is fully capable of controlling the short-term trend. The purpose of controlling the short-term trend is to influence the judgment of retail investors. After experiencing the tiring market in the past six months, and the previous big correction, and finally the recent rebound.

Obviously, retail investors have formed inertial thinking. Now in the market, I believe that what everyone hears most is: the rebound will end and there will be a big drop next. If you don’t run after the rebound, you will continue to be trapped.

Personal thoughts, let me briefly explain the current trading logic:

The interest rate cut on September 18 is 100% event.

The cryptocurrency circle hopes to cut interest rates by 50 points without recession, and as long as there is this expectation, it will rise.

Powell's speech last Friday released the information that there is a possibility of a 50-point interest rate cut, so it came to 64,000.

And the U.S. stock market fell last night, because after a 50-point brain heat, it was found that the probability of a 25-point interest rate cut was greater.

Next, we will speculate another 50 points based on the data until the 18th.

Where does the currency circle have so much financial freedom? It's all a lie, understand?
The 80/20 rule: Only a very small number of people can make the first pot of gold in the currency circle, and most people will be cut off and flee the currency circle with losses.
If you want to gain a foothold in the currency circle, you must study hard and do more research. It is not recommended for novices to do real trading. You can do more simulation trading and realize a set of trading experience of your own, so that you may become one of the very few people.
Or find a good leader to lead you to explore, but please remember that there will be no pie in the sky, and it is profitable. Only by bundling interests can a win-win situation be achieved. Don't think about getting something for free, or proving it, do you dare to take it for free?
Finally, I hope that friends in the currency circle can stay away from leeks and strive to get a share of the market.

The premise of making money in the cryptocurrency world is that your own assets are safe. If the safety of your funds is not guaranteed, it is useless to make a lot of money if you cannot withdraw it.

It is difficult for self-media entrepreneurs to make any successful projects.

Self-media people are best at self-media, and other things are not as quick and easy as self-media.

Some self-media people may transform into catering and foreign trade, but in essence, it is not as easy as self-media.

Therefore, once many entrepreneurs start self-media, it is difficult to make their businesses better.

Because the logic of self-media is to continuously expand the sales end.

The current support level of Bitcoin is 62,000 and the resistance level is 65,000.

It is now in a bullish trend, and the bulls are slightly stronger.

The market sentiment index is 60, which is in a medium-to-high state. In the afternoon, you can still start to deploy near the lower support level.

A callback will always happen!!
There was no disturbance in the data last night. The bulls and bears in the market were grinding, and the continuous sideways trading did not see a major breakthrough in the volatility.
Recently, Bitcoin and Ethereum have continued to fluctuate up and down in the horizontal box. From the perspective of trading volume and volatility, Bitcoin is still slightly stronger than Ethereum.
As mentioned before, funds are waiting to observe the trend of the US stock market, and the US stock market last night was indeed consistent with Xiao Yu's expectations, with a clear negative line decline. Compared with the US stock market, Bitcoin has a smaller overall volatility, so its reaction will also be delayed. Xiao Yu's short position will wait until the flowers wither.

Yesterday the market was always in a volatile state. In the evening, the market fluctuated slightly downward and occasionally touched the lowest point near 60100. Then it moved upward in the morning, but it was still in a narrow range of fluctuations as a whole. At present, it is fluctuating above 60000, but it has been unable to break through the new high, indicating that the pressure from above is still relatively large. So we still treat today's Silk Road as a rebound short. At present, the upper space is small and the lower space is large. It shows a downward trend as a whole. The news that needs to be paid attention to today is Powell’s speech. Everyone knows the influence of Old Powell on the currency circle, so we must pay close attention to it in the evening.

When the market is not good, pay more attention to the hot sectors this year
The concept of AI+depin is the trend this year, and the IO project must be mentioned
io.net is a cloud computing project that combines artificial intelligence, decentralized finance and Solana blockchain technology. Its business model is benchmarked against traditional cloud services such as Amazon and Alibaba Cloud. By building an IO Cloud cluster and integrating GPU resources from platforms such as Render Network and Filecoin, io.net has formed the world's largest GPU resource pool and distributed physical infrastructure network.
👉Key features:
💥AI + DeFi + Solana: Through a unique combination of technologies, io.net shows great growth potential.
💥Strong partnerships: Cooperate with multiple platforms and projects to enhance their market competitiveness.
💥Innovative economic model: Use token economy and distributed resources to improve efficiency and attract investment.

The annual BTC conference is about to begin. Last year, the price was $27,000 a week before the conference and $29,000 a week later, an increase of 7%. Will it increase more with Trump's support this year?
Date and location:
Date: July 25-27, 2024
Location: Music City Center in Nashville, Tennessee, USA
Main participants:
Robert F. Kennedy Jr.: Independent presidential candidate, actively supports the Bitcoin industry Michael Saylor: Executive Chairman of MicroStrategy, holds a large amount of Bitcoin Cathie Wood: Founder and CEO of ARK Invest, known for its expertise in disruptive innovation
Vivek Ramaswamy: Well-known entrepreneur and political commentator
Edward Snowden: Well-known whistleblower and cybersecurity expert

Be cautious when speculating in cryptocurrencies in China: Legal boundaries and the definition of personal behavior
Important clarifications are as follows:
Legal status of Bitcoin: In China, non-legal digital currencies such as Bitcoin do not enjoy legal currency status, which means that voluntary buying and selling between individuals (including the transfer of funds in and out) does not constitute an illegal act under the current legal framework. However, it should be kept in mind that using cryptocurrencies such as Bitcoin to speculate on exchange rates (such as exchanging through illegal channels) or inducing others to participate (commonly known as "pulling people") may violate relevant laws and regulations.
Restrictions on cryptocurrency business activities: For commercial operations involving cryptocurrencies, such as setting up cryptocurrency exchanges, issuing new cryptocurrencies, and directly conducting over-the-counter (OTC) transactions, these behaviors are considered illegal in China. These regulations are intended to maintain the stability and order of the financial market and prevent the breeding of illegal financial activities.

Daily market analysis - ETH

Based on the 2-hour cycle chart, Ethereum fluctuates between 2710 and 2545. Currently, the 2545 support has rebounded, but shorting is not recommended at this position.

If the support is effective, the price may rise back to 2700. It is recommended to pay attention to the break of the support level. If it breaks, you can consider shorting with a target of 2420.

September is still volatile, with long and short positions exploding, and October will take off

If there is a real market, I guess everyone will be ahead of the shock.

Crumbling

What does the Chaos Theory say?

I have held it for 3 days. If it doesn't fall to a new low today, I will close it.