Good evening, brothers!
【Is the market correction just the beginning?】
Today, the market index made a slight adjustment, but many people have lost a lot. Of course, my positions continue to reach new highs, which is what I call steady trading.
Looking at the three major indices, the Shanghai Composite Index trading congestion is at 82, the Shenzhen Composite Index trading congestion is at 82, and the ChiNext Index trading congestion is at 85, still in a moderately congested state.
If the market continues to rise tomorrow, many people will still believe it is a bull market. If the market corrects tomorrow, many will start to doubt again and want to reduce their positions to stop losses.
Do you think this is correct?
……
Ahead of the Jackson Hole Global Central Bank Annual Meeting, the cryptocurrency circle is holding a blockchain seminar in Jackson Hole, with high-ranking officials from the Federal Reserve, SEC, and Trump's son in attendance. One of the popular candidates for the next Federal Reserve Chair, Christopher Waller, a Federal Reserve Governor appointed by President Trump, spoke at the meeting on Wednesday, calling for embracing the "technology-driven revolution" occurring in the fields of artificial intelligence and stablecoins, believing it can drive the development of the U.S. economy.
Waller stated in his speech that digital asset innovation "is not to be feared," and the payment system is undergoing a "technology-driven revolution." The latest advancements in computing power, data processing, and distributed networks are giving rise to many innovative payment services.
BTC: On the 4-hour level, the price continues to stay below the middle band of the Bollinger Bands, showing a weak price trend.
On the daily level, the price continues to be under pressure from the moving averages.
In summary, the support level is 113200, and the resistance level is 113500.
ETH: On the 4-hour level, the price continues to stay above the middle band of the Bollinger Bands, showing a healthy price trend, with a support level of 4280 and a resistance level of 4310.
LTC: The price continues to fluctuate near the middle band of the Bollinger Bands, with a support level of 113 and a resistance level of 117.
BCH: The price has fallen below the middle band of the Bollinger Bands, showing a weak price trend, with a support level of 540 and a resistance level of 570.
That's all for now, good night!
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