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This week, the Crypto Assets market is迎来multiple important events, and investors should closely follow.
Several officials from the Federal Reserve will be speaking, with the most notable being Chairman Powell's speech at the Jackson Hole Global Central Bank Symposium on Friday. In addition, the Federal Reserve will also release the minutes from the monetary policy meeting, which may impact the interest rate decisions in September.
Bitcoin is facing a key test this week. Last week, it formed a gravestone doji, indicating a possible pullback. In the short term, Bitcoin is expected to fluctuate between $115,900 and $120,000, with a larger range of fluctuation between $112,500 and $120,300. Whether it can effectively hold above $120,000 will determine if the bullish trend can continue. Currently, several indicators at the daily level for Bitcoin have shown a death cross, indicating that the momentum is weakening. If it falls below $116,600, it may further test near $112,500. If the support at $112,500 is broken, the recovery time may be extended.
Although Ethereum is relatively strong, there are still adjustment risks in the short term. It is currently in a relay adjustment market, with hourly levels being suppressed by trend lines. A series of meetings in the second half of this week will affect the market's expectations for interest rate cuts in September. If it cannot stabilize above 4573 USD this week, there may be a quick downward spike followed by a rapid recovery. Support levels are at 4385, 4320, and 4180 USD, while resistance levels are at 4535, 4573, and 4640 USD.
Overall, the Crypto Assets market is at a critical juncture, and investors need to closely follow the Federal Reserve's policy signals and the technical trends of major Crypto Assets to make informed investment decisions.