Master Discusses Hot Topics:

After two days of decline without new news, this morning saw another pullback. Such unreasonable drops often reflect an overdrawn pessimism about the future, especially with eyes on the September interest rate cut and whether the U.S. is entering a downward cycle.

Once the Federal Reserve's July minutes were released, it turned out to be useless, as most voting members were still hesitant and unwilling to make a statement. Only two old members were calling for a rate cut, and later, Williams joined in.

Trump directly criticized the conservative voting member Cook, clearly trying to set an example and force them to express support for a rate cut. In simple terms, the market is just watching the Federal Reserve's face and betting on the situation.

Back to the market, Bitcoin is experiencing increased volatility today. On the surface, it is down, but there are signs of a rebound, albeit too weak. In contrast, Ethereum is showing strength, filling the gap and recovering yesterday's losses.

Ultimately, institutional sentiment favors Ethereum more. Why? Because Bitcoin's current stability is not due to many buyers, but rather a lack of sellers, which is a manufactured stability. Ethereum, on the other hand, has a market driven by real buying power, hence its stronger rebound.

Last night, Bitcoin dipped to around 112.2K, which likely scared a number of bulls. However, that position aligns perfectly with my previous analysis of the expected bottom at 112K, and it has bounced back. How it plays out next will depend on Jackson Hole and Powell's statements.

That said, Bitcoin, whether bullish or bearish, has never dropped continuously for more than 72 hours, nor has it risen for more than 72 hours; the main players' strategies remain the same.

This round of contracts has seen a violent rise and fall, pushing positions to the sky and then ruthlessly crashing down, finally bringing holdings back to levels similar to before. There may be some short-term pullbacks, but as long as key levels are not broken, the oscillation range should hold.

Bitcoin's rising wedge is indeed a bit weak; if it pulls back and forms a double bottom without breaking new lows, that would signal a bottom, and premiums could continue to rise. However, if it breaks new lows, I can only look at 110K, and there's not much more to say.

The strong support below is at 108.8K. If it can take advantage of the macro sentiment over the next couple of days to dip down and then make a V-shaped recovery, that would be a great opportunity to get in. Ideally, it would dip to the 110K round number and stabilize, giving us a chance to bet on Ethereum reaching new highs.

Ethereum just happened to retest below 4280 this morning; if short sellers dare to take it on, they are just looking for trouble. Resistance has moved up, and the price action over the past few days has shown that previous highs are getting lower day by day, and previous lows are also getting lower day by day.

Yesterday's barrier at 4060 was the lowest point of this round of pullbacks, and it has now bounced back. Ethereum has retested the previous high range twice, proving to be much stronger than the neighboring Bitcoin.

My view remains unchanged; the real new high has not yet arrived, and we are just confirming the lower boundary of the range. Once it stabilizes, a straightforward new high will follow.

Master Looks at Trends:

Resistance Levels Reference:

Second Resistance Level: 115000

First Resistance Level: 114300

Support Levels Reference:

Second Support Level: 113400

First Support Level: 112600

First, the range from 112.8K to 113K is a potential double bottom area, so it’s crucial to see if 113K can hold and stabilize. 112K is the maximum pullback level after the previous rise; if it breaks, the downside space will open up directly.

Rebounds are one thing, but the key is to see if subsequent pullbacks can gradually raise the lows. If the lows can be elevated and then consolidated, there will be a chance to break the short-term downtrend.

However, the current rebound strength is relatively weak compared to the decline, so don’t recklessly short-sell; the correct approach is to use pullbacks to identify points for short-term rebounds.

The first resistance at 114.3K is a key point from the previous accelerated decline; whether it can be reclaimed depends on trading volume. If it can stabilize, it indicates the possibility of raising the lows. The second resistance at 115.3K is a strong pressure zone, and this position will likely see a short-term pullback, but it is not the main contradiction in the current market.

The first support at 112.7K is a key level that must be held today; if it fails, it will lead to an N-shaped decline. The second support at 112K is a critical low point; if 112.7K cannot hold, there may still be a chance for a short-term rebound here.

8.21 Master’s Wave Strategy:

Long Entry Reference: Buy in batches in the range of 112000-112600, Target: 113400-114300

Short Entry Reference: Not currently applicable

If you genuinely want to learn something from a blogger, you need to keep following them, rather than making hasty conclusions after just a few market observations. This market is filled with performative players; today they screenshot long positions, and tomorrow they summarize short positions, making it seem like they "always catch the tops and bottoms," but in reality, it’s all hindsight. A truly worthy blogger will have a trading logic that is consistent, coherent, and withstands scrutiny, rather than jumping in only when the market moves. Don’t be blinded by flashy data and out-of-context screenshots; long-term observation and deep understanding are necessary to discern who is a thinker and who is a dreamer!

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