Wednesday, CPI release, intra-day volatility at key points, go long high, go short low!

Yesterday, intra-day performance was volatile, with various bearish signals during the US trading session instantly swallowing gains, US stocks plummeted, and tensions between the US and Iran resurfaced. Market sentiment remains tense. Before CPI, prices dropped sharply, and the short-term hawkish rate hike expectations have become even stronger. On the daily chart, the range-bound oscillation is excessive.

From a technical perspective, on the daily chart, the four-hour moving averages are all in a bearish alignment, and the medium-term downtrend has not yet reversed. Only the short-term hourly chart has entered an oversold zone. Based on the current pace, the probability of a sudden breakdown is not high.

Support below at 60,700-60k is obvious. During this process, some time is needed to change the space. Without major news impacts, short-term continuation of a single-sided decline should be difficult. As uncertain data approaches, market expectations are generally high. If it falls below 4.0, a significant rebound may occur. Previously, we were overly focused on range-bound thinking; intra-day key point trading!

The most important thing is tonight’s CPI data:
Above expectations: bearish, quick decline to test 60,000 support
Below expectations: short-term bullish, rebound to challenge resistance above 64,600

Bitcoin, 619-623 range, watch 608-604. If it hits here without breaking, go long again, aiming for a small rebound of around 800 points.
Altcoin, 1645-55 range, watch 1610-1580. If it hits here without breaking, go long again, in sync with Bitcoin!

That’s all for now. Wishing everyone smooth trading and good luck! #Gate直通IPO认购SpaceX #贝莱德减持BTC增持ETH $BTC $ETH $SOL