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- 🎉 Hey Gate Square friends! Non-stop perks and endless excitement—our hottest posting reward events are ongoing now! The more you post, the more you win. Don’t miss your exclusive goodies! 🚀
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Just shy of the $4,891 ATH—think it breaks through?
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4. Submissions must be original and comply with community guidelines. Plagiarism or re - 🎉 The #CandyDrop Futures Challenge# is live — join now to share a 6 BTC prize pool!
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Dare to trade. Dare to win.
Analysis of BTC/ETH strategy on the morning of August 13th
Yesterday's CPI data met market expectations, and the rise of U.S. stocks drove up cryptocurrency prices, making a rate cut in September basically a foregone conclusion.
U.S. Treasury Secretary once again publicly stated that the Federal Reserve should consider a 50 basis point rate cut in September, and the news immediately triggered a rally across the cryptocurrency market.
Compared to other mainstream coins, BTC appears particularly steady this time, with the price basically oscillating around 120000. The recent bullish engulfing pattern seen on the 4-hour level indicates that the price is still in a bullish trend. The reason for the current failure to break through effectively is that the main funds have shifted to the recently strong ETH. In terms of technical parameters, KDJ is rising again and maintaining a continuous upward trend. The MACD is shrinking in volume, and as long as it holds above the 1197 level during the day, the bullish trend will continue.
BTC is defending around the 1190-1195 area with a target of 800.
1207-1220-1233
ETH is around 4540-4570, defending 50 with a target.
4630-4680-4780