Today's CPI data is just like last week's employment data, the only breakthrough point of the week, but the CPI data is obviously less weighted than the employment data. If the CPI data this week fails to help prices break through and stabilize above the 63,550 daily line, the bullish sentiment will inevitably continue to be dampened. The possibility of prices continuing to fall back and correct will be relatively large.
The trend of BTC in the past two weeks has been too weak, and in the absence of external stimuli, the market has basically been fluctuating in a small range, which also indicates that the market traders are in a state of confusion at the current stage, and this state of confusion will inevitably greatly damage the confidence of the bulls. To use the words of many friends, it's not easy to rise, and it's not comfortable to fall either, this is the most annoying stage.
Currently, in my view, this is the aftermath of the forced stimulus and surge before last week's correction was not sufficient. Moreover, in the first few days of this week, BTC began to decouple from the trend of the US stock market, which made the market lose its reference "anchor" again, which is quite troublesome. Currently there is no solution, waiting is the best way, either a technical breakthrough/breakdown during the day today, or a short-term trend triggered by the CPI stimulus tonight.
Daily Market Analysis:
BTC
BTC is currently rebounding at the 1-hour level, with resistance levels to watch around 61,350-61,740-62,300.
If it breaks below 60,850, the 1-hour rebound will fail and the market will turn bearish, with support levels to watch around 60,280-59,810-59,260.
ETH
Ethereum is currently rebounding at the 1-hour level, with resistance levels to watch around 2,411-2,440-2,472.
If it breaks below 2,390, the 1-hour rebound will fail and the market will turn bearish, with support levels to watch around 2,351-2,330-2,310.
The market is waiting for Trump's election, and a bullish market may come.
This year's financial market seems to be shrouded in an invisible force, with the overall trend appearing dull and lacking in vitality. Investors are closely watching an important piece of news - the result of the US election, especially the possibility of Trump's election.
The market seems to have solidified, and everyone is waiting for the confirmation of this key information. Trump's election is seen as a potentially market-exuberant factor. Although his policy proposals and market reactions have experienced many ups and downs in the past few years, investors still have expectations for his election.
This expectation is not without basis. Trump's campaign proposals such as tax cuts and increased infrastructure investment are seen by many as positive signals for economic growth and market prosperity. Therefore, once he is elected, the market is likely to see a strong rebound.
However, it also needs to be seen that the market trend is not determined solely by a single factor. While waiting for Trump's election, investors also need to pay attention to other factors such as the global economic situation and geopolitical risks, which may also have a significant impact on the market trend.
In general, this year's financial market is waiting for a key piece of news - Trump's election. This news may trigger a market frenzy!
Although the market is terrible, I am still optimistic about the future!
In general, although the cryptocurrency market is facing short-term volatility, its overall outlook is still optimistic in the medium and long term. We can expect that the current adjustment is more of a market washing behavior, aiming to clear out short-term speculative capital and accumulate strength for the next round of upward movement.
The capital market is essentially a battlefield of human nature, and the cryptocurrency market is the ultimate embodiment of this game. With the gradual recovery of the global economy and the further easing of monetary policy, the incremental capital of the cryptocurrency market still has huge development potential. For investors who can patiently hold, the arrival of the next bull market is worth looking forward to.
Therefore, the current market adjustment does not mean a change in the long-term trend, and investors do not need to be overly pessimistic. On the contrary, this may be a new layout opportunity, preparing for the future rise. Believe that after the storm, the cryptocurrency market will eventually usher in a new bull market.
Follow me to go through the super bull market!!!
Create a high-quality circle
Spot trading is the main focus
I will share some content: as shown in the following conditions:
Total position ≥ $5,000 If you want to join, scan the QR code below!
That's the end of the article, I will do more detailed analysis in the exchange group, if you want to join my circle, please contact me directly, the WeChat below!
Note: If the QR code is invalid, please leave a message in the background
