8.13

Last night, the CPI annual rate was 3.1%, slightly lower than expected, which is favorable for a rate cut in September.

BTC
According to our expectations, it is still consolidating at a high level because Bitcoin's market share is gradually decreasing, which is beneficial for altcoins led by Ethereum. As long as Bitcoin can remain stable at a high level without a significant pullback, the impact will not be considerable. The overall thinking is the same as yesterday. Last night, it also rebounded to 120,000 at its peak. During the day, as long as the 120,000 level is not broken, it will fluctuate around the range of 120,000 to 117,200. At the same time, it must not break below 117,200; if it does, it will move around 112,500. So overall, the focus is on high-level consolidation, with support at 117,200-116,300 below and resistance at 120,000 and 122,500 above.

ETH
Ethereum is really stronger than expected. I mentioned to everyone about this wave of market sentiment because the monthly chart has already formed a golden cross, and it is highly likely to break the previous high. Currently, it is only about 200 dollars away from the previous high. During this period, the buying and trading volume of Ethereum has been higher than that of Bitcoin, indicating that many institutions have entered the market with optimism. This is because Ethereum is the technology that truly implements blockchain in practice. Additionally, I previously mentioned the exchange rate of Ethereum, which has shown exceptional strength after several years. This is also a very important reason for its rise. The key level to pay attention to at the moment is 4640. Can this level hold effectively? If it can, it is highly likely to move around 5000. A few days ago, we predicted that Ethereum would move around 5000 to 6000, and it seems we are close to that now. In the weekly review on Monday, I mentioned that any pullback in Ethereum would be an opportunity to enter. From the market's long-short ratio, there are still a lot of people shorting Ethereum. In summary, the overall direction remains upward, but I do not recommend chasing with large positions at this level, as the Ethereum Foundation has started to offload. Support is at 4488-4330, and resistance is at 4640-4760-4860.

sol
As mentioned to everyone on Monday, be patient and wait for the rebound. After waking up today, I found that it is as we wished. For now, we can keep an eye on the vicinity of 205. As long as it can hold above 205, it will move within the range of 213 to 253.

#ETH突破4300#