As the important meeting on Friday approaches, the financial markets have entered a state of heightened alert. Over the past two weeks, the market's expectations regarding Fed Chairman Powell's attitude have frequently swung, at times believing he would signal a dovish stance, while at other times worrying he would appear overly hawkish. However, predicting Powell's specific remarks is actually a highly challenging task.

What we can be sure of is that Powell will deliver a speech at 10 AM Eastern Time on August 23 (10 PM Beijing time on Friday). The main concern of the market is that Powell's remarks may deviate from recent market expectations, which could affect investors' confidence in future rate cuts.

In fact, the influence of this meeting and speech may be similar to the CPI data released last week. As long as Powell's remarks are not too aggressive, it may ease the market's self-panic sentiment, which itself can be seen as good news. In other words, as long as Powell does not appear too hawkish, the market can accept it.

From an investment perspective, if Bitcoin can pull back to the range of $108,000-$110,000 before the meeting on Friday, and Ethereum can dip to the range of $3,800-$3,900, it would present a very attractive buying opportunity. These price levels not only serve as strong support but also help to absorb the bubble component of the gains since August, making them quite a favorable entry point in terms of risk-reward ratio.

Therefore, in the coming days, investors need to closely monitor market trends, looking for potential short-term panic sell-offs that may provide excellent buying opportunities at lower prices. At the same time, it is important to remain rational and not be swayed by short-term market fluctuations, but rather focus on long-term investment strategies.