8.29BTC oscillating pump latest market trend analysis, BTCETH evening operation recommendation

#ETH 跌破$2500，抄底还是等待？ #九月降息预期下，BTC能否大涨？

On Thursday, BTC short-term suddenly pumped, influenced by the strength of the US dollar, investors followed key inflation data from the world's largest economy to search for clues to the scale of the Fed's interest rate cut in September. On this trading day, the US initial jobless claims change and the US GDP revision for the second quarter will be released, which investors also need to follow. At 03:30 the next day, 2024 FOMC voters and the Atlanta Fed's Bostic will once again speak on monetary policy and economic prospects. Based on the morning's speech, support for the coin price will continue, so the overall coin price will tend to oscillate during the day, waiting for further guidance from Friday's PCE data.

With the high likelihood of a September interest rate cut by the Federal Reserve, the focus has shifted to the pace of future adjustments. Many decision-makers have reached a consensus on taking a gradual approach to the final battle against inflation. At the annual Federal Reserve symposium held in Jackson Hole, Wyoming last week, several decision-makers presented factual and logical arguments for a 'gradual' or 'methodical' rate cut, contradicting investors' expectations of at least one significant rate cut this autumn. These officials believe that inflation has not cooled to the target level of 2% and, despite signs of weakness in the labor market, widespread layoffs have not occurred, indicating that aggressive action is not currently necessary. The market will closely follow data such as initial jobless claims in the U.S. for the week ending August 24, the revised annualized quarterly real GDP for the second quarter, and the monthly pending home sales index for July. Market expectations lean towards a high probability of favorable information affecting the coin price. However, if the actual data released is positive, it will put pressure on the coin price, causing it to fall once again.

From the daily chart of BTC, within the daily K line, the Stochastic Oscillator shows a weakening bearish signal, making it difficult to form a big dump; this may be a sell with bearish market by Market Makers after the rally. This trend basically conforms to the indicators and patterns; because the pattern has not formed a new high and the indicator is bearish, to take into account both the pattern and the indicator, it can only be a quick sell with bearish market mode after breaking the new high. On the 4-hour chart, BOLL is contracting, with a small range contraction, and the direction will be further selected later on; in terms of indicators, the Stochastic Oscillator and MACD indicators are entering a weakening state, and the signal will not be very clear for the time being.

From the perspective of the trend, yesterday closed at the Bearish line, with prices near MA5 and 10-day moving averages. After the previous large bullish rise, it has been in a consolidation phase. The market is mainly running in a range, with an increase in volatility, but the overall long positions have not changed. In the short term, the 4-hour and hourly charts show a tendency to run within a converging triangle. The upper side has tested the 60,000 area twice, and the lower side has tested the support twice on the 4-hour chart last night, without breaking through the downward trend line. Moreover, it rebounded after testing the 618 position of the previous rise's golden ratio line, and then ran in a small range in the early morning.
#BTC #ETH #比特币

Today's operation recommendation:

BTC operation train of thought: short term59300—59500 Light Position multi, target around 63300
Ether operation train of thought: long at 2540—2530, target to 2700 attached

The above suggestions are for reference only. In actual operation, it is necessary to flexibly adjust the strategy in combination with the real-time market trends and personal risk tolerance.

Finally, it needs to be emphasized that the market is always full of variables and uncertainties. Therefore, in the trading process, we should maintain a high level of vigilance and keen insight in order to flexibly respond to market changes and accurately capture every profit opportunity. At the same time, I also recommend that you follow my homepage to get more real-time analysis and trading strategy information, so as to better grasp market dynamics and investment opportunities. But please remember that risks and returns coexist. Please take risks according to your own situation and bear the risks yourself.