Not looking too good—are the Americans going to shut the door and beat the dog tonight? Bitcoin is about to get hit from both sides by CPI and PCE inflation data. Will it drop? Go take a look.

a. First, let me say something counterintuitive. If I tell you that tonight’s PCE data isn’t bearish, would you believe me? Because tonight’s PCE is the February inflation data, and the war started in March—so you get it. So how should we operate today?
b. Our trading logic has always been this: if the war hasn’t ended, then we short into highs. And since the end of yesterday, our approach has been to buy on dips for a rebound—possibly even rebounding for a week or two. I think we’ve gone over this many times. Some folks still just can’t get the point. Now that both sides have stopped firing,
c. However, although tonight’s PCE isn’t really bearish, tomorrow’s CPI looks a bit worrying. Because the CPI is going to be released as the March data, which is the high oil price data. So I think we need to be a bit cautious tomorrow, and we’ll see then.
d. Now coming back to the current trade: the strong support for Bitcoin is around 69.8k and 70.8k, and the minor resistance is at 72k and 72.6k. Last night, we already went long above 70.8k up to 72k. The second time going long might not be as stable—so we can only try with a small position. Then we’ll look for stronger support above 69.8k, like around 70k, where I also have plenty of orders placed. If it comes, just execute the trades~
e. Also, yesterday afternoon I posted in the group that we should go long from 71.5k to 72.5k, and it was successful. We entered two long trades overnight, and both hit take profit—I’m very satisfied. When trading, be sure not to chase longs; buying on dips for a rebound is safer and brings in more profit. You agree, right?