Wall Street Crypto Morning Post 08.25: Long and short double kill in three days, what do you want to do with the big cake and the second cake

Viewpoint: Last Friday, America’s old man Powell's speech led the bulls to soar, with BTC breaking through resistance levels of 114500, 115700, and 117000, while ETH set new historical highs, defeating the bears thoroughly. However, within less than three days, the bears made a comeback, not only bringing ETH back to the 4700 consolidation zone but also momentarily breaking the critical level of BTC at 112000. What’s going on? From the weekly and daily charts, BTC is still in a correction phase, and if 112000 is effectively broken, there could be significant downward space. Therefore, the bulls will defend this level and even counterattack vigorously. Fans' operating strategy at this time can focus on high selling and low buying for small wave arbitrage.
Operation strategy: BTC can be bought in batches on dips around 112500 and 111600, and can be sold on highs around 113900 and 114700.
Risk warning: The bears have broken the 110000 level, and the bulls have temporarily withdrawn to observe.
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