Evening CPI Market Analysis and BTC Trading Suggestions



Regarding the impact of the evening CPI data on the market, based on the analysis of the cyclical trend, BTC is still in a daily downtrend, and there has not yet been a reversal signal on the weekly chart. Therefore, the trading strategy for the evening should focus on short positions, and it is not advisable to blindly bottom fish for long positions.

For this CPI data, the expected impact on the market is limited. This is because the large-scale trend will constrain small-scale fluctuations. If the data is positive, there may be a brief rebound before continuing to fall; if the data is negative, it is highly likely to directly test the moving average level of 106. In summary, evening operations should focus on shorting at highs.

Trading suggestion: BTC can be shorted with a small position in the range of 111500 - 112000, with the possibility of averaging down around a drop of 1500 points. Set the stop loss above 113500, with targets at 110000 and 108000.
SOL-1.08%
ETH-1.24%
BTC-0.35%
View Original
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)