The market environment is relatively complex, but the outlook for BTC's upward potential remains optimistic!



In the past two days, Bitcoin has continued to fluctuate at high levels, gradually drifting lower in a slow-moving correction.

After a slight dip during the early hours, it stabilized at a low level, with the 796-798 range forming short-term resistance, unable to establish a firm footing. The candlestick chart shows mostly weak small bearish candles, with no significant increase in trading volume, indicating insufficient momentum for a rebound.
Currently, the price is approaching recent lows, showing some signs of overselling in the short term, but the overall structure remains weak.

The market is in a state of hesitation. In the short term, factors such as persistently high inflation, the collapse of rate cut expectations, the potential for rate hikes, a strengthening dollar, India's tax hikes suppressing demand, and the noticeable stock market capital inflow effects collectively form a powerful force suppressing the coin price.

In the coming days, market focus will be on the outcomes of the China-U.S. leaders' meeting, changes in more inflation-related data, and the statements from Federal Reserve Chair Powell after his appointment.

BTC trading suggestion: buy at 783-779, defend at 800 points, target 798 breakthrough to see 806-812.

ETH trading suggestion: buy at 2210-2218, defend at 30 points, target 2291 breakthrough to see 2340.
BTC-1.58%
ETH-1.61%
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