The cryptocurrency market has recently shown signs of fluctuation, influenced by multiple factors. On the policy front, remarks from U.S. leaders have triggered market reactions, causing Bitcoin to briefly fall below the $113,000 mark, while Ethereum also retreated to below $3,600. Nonetheless, market participants believe this is just a short-term fluctuation and should not be overly alarming.



From a technical perspective, the daily chart shows a rebound after the previous K-line retracement, forming a bearish candle with a lower shadow. The intra-day trend is fluctuating near the 7-day moving average, with the Bollinger Bands opening up and short-term moving averages showing a downward trend. The MACD indicator's fast and slow lines are extending downward, but the volume has shrunk. The KDJ indicator shows signs of turning upward but remains in a flat state. The 4-hour chart shows that the market is fluctuating within the Bollinger Bands range and is currently testing the middle band position.

Market participants expect that the recent market may continue to show a range-bound fluctuation pattern. For Bitcoin, the 4-hour chart shows a support level near 112985 dollars and a resistance level around 114777 dollars. As for Ethereum, the 4-hour chart shows a support level at 3545 dollars and a resistance level near 3660 dollars.

It is worth noting that the current market sentiment indicators show a slight lean towards greed, but have eased from the previous state of greed. The long-short ratio on the 4-hour chart is close to balance, indicating that market divergence still exists.

In addition, several news items that have garnered high market attention include: the White House will make an important statement, Ethereum reserve strategy company’s holdings have surpassed 3 million coins, and Binance's CEO has applied to dismiss FTX's massive claims, among others. These factors may all impact the short-term market trend.

Overall, the current market is in a phase of policy uncertainty and technical game. Investors need to closely monitor policy trends while making judgments based on technical analysis to cope with potential market fluctuations.
BTC1.74%
ETH0.35%
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tx_pending_forevervip
· 08-09 13:05
Cut Loss, it's really outrageous.
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GasBankruptervip
· 08-09 10:12
I have long been accustomed to the rises and falls.
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HashRateHermitvip
· 08-07 11:50
Despite the fluctuations, long positions still have to go all in.
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AirdropBuffetvip
· 08-06 14:52
The crypto world finally has some fun to watch.
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BearMarketSurvivorvip
· 08-06 14:40
Keep being unreasonable, it's not like it will fall to death anyway.
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MEV_Whisperervip
· 08-06 14:38
Just buy it.
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PumpStrategistvip
· 08-06 14:32
A typical three-wave pullback, what are the suckers still panicking about?
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ThatsNotARugPullvip
· 08-06 14:29
Why is the bull run still grinding at the bottom?
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OnChainArchaeologistvip
· 08-06 14:26
Sideways is a good thing, just take your time.
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