Based on the White House's warning last Monday and the ADP data on last Wednesday, the market has already priced in the soft NFP and a higher unemployment rate on last Friday. When this time did come, the market didn’t magnify the volatility. After entering September, the pace of B/S reduction will double, but the impact will be small in recent months. The reason is that the TGA account and RRP on the B/S will share the pressure on the reserve account up front, slowing down the decline of Cheap Money in the market.
This week, the first step of ETH merger, Bellatrix's upgrade will begin. Judging from the market, the success of the merger will determine the trend of the next cycle.
BTC has not kept up with ETH this week. After the dump at the end of August, the price of BTC remained within a narrow range near the previous low, and the trading volume gradually decreased. Smaller volumes and lower price volatility are difficult to get information. BTC has no direction.
Conclusion: Mostly falling. We give this conclusion based on the current bulls and bears, and did not add content other than TA, such as the possibility of the success of ETH’s merger, and the Aug CPI released next week. On a larger scale, we prefer the bears to maintain control. This week we still maintain previous support level at 19,000 and lowered the resistance level to 20,800.
If you have any ideas, welcome to communicate with us:)
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
This week, the first step of ETH merger, Bellatrix's upgrade will begin. Judging from the market, the success of the merger will determine the trend of the next cycle.
BTC has not kept up with ETH this week. After the dump at the end of August, the price of BTC remained within a narrow range near the previous low, and the trading volume gradually decreased. Smaller volumes and lower price volatility are difficult to get information. BTC has no direction.
Conclusion: Mostly falling. We give this conclusion based on the current bulls and bears, and did not add content other than TA, such as the possibility of the success of ETH’s merger, and the Aug CPI released next week. On a larger scale, we prefer the bears to maintain control. This week we still maintain previous support level at 19,000 and lowered the resistance level to 20,800.
If you have any ideas, welcome to communicate with us:)
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
