Good evening, brothers!
【The big drop has begun!】
Today's market saw a significant drop after a rebound, which is quite normal. I mentioned in my article the day before yesterday that the pullback has started, mainly because the previous rebound was too much.
Today's pullback can only limit the number of rising stocks to under 1000. Many people have expressed that they are tired of the drops, but I believe this may not be the end of the pullback. Of course, I have already reduced my positions to a very small amount during the previous rebound, and if the market continues to drop, it will provide a good opportunity to add positions.
Are you willing to buy?
……
On Wednesday, August 27, the third-in-command of the Federal Reserve, New York Fed President Williams, stated in an interview:
"I do believe that, from my perspective, every meeting is 'live.' The risks are more balanced between employment and inflation. The Federal Reserve's policy meeting next month will be a 'live' meeting."
After Federal Reserve Chairman Powell stated last Friday that "employment faces increasing downside risks" and "the balance of risks has shifted, which may require an adjustment in policy stance," investors have been betting that the Fed will cut interest rates in September. Analysts say that although Williams did not directly indicate support for either raising or lowering interest rates, he used the term "live" (indicating that action could be taken at any meeting) to suggest that the policy is flexible.
BTC: On the 4-hour level, the price has rebounded to near the upper Bollinger Band, showing a strong price trend, but the short-term market is overbought, so be cautious of a price pullback.
On the daily level, the price continues to oscillate near the moving averages.
In summary, the support level is 112700, and the resistance level is 113100.
ETH: On the 4-hour level, the price continues to stay above the middle Bollinger Band, and the price trend remains healthy, with a support level of 4580 and a resistance level of 4600.
LTC: The price continues to oscillate above the middle Bollinger Band, with an average price trend, a support level of 112, and a resistance level of 114.
BCH: The price continues to stay above the middle Bollinger Band, and the price trend remains healthy, with a support level of 540 and a resistance level of 570.
That's all for now, good night!
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