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Song Xiqing: Morning update on June 11 — CPI didn't break it? Don't worry, the rebound is an opportunity
Thursday morning, let's review last night.
At 8:30, CPI data was released, and the annual rate returned to the "4s," meeting expectations. The market initially jumped to 62.8k, and this morning it’s back near 61k. The daily candle closed bearish, still in a downward trend.
The data didn't break below 60k, just short-term emotional recovery, the trend hasn't changed. On the 4-hour chart, it stopped at 62.8k after the rebound, with 64k resistance pressing down hard. The bulls lost momentum after a rally, a typical rebound correction, not a reversal.
My view remains unchanged: 62.5k-64k is a strong resistance zone, and the rebound is an opportunity to buy. 60k will be tested again later.
Trading suggestions:
Bitcoin: Rebound near 62.5k-64k, target 61.5k-60k-55k;
Ethereum: Rebound near 1660-1700, target 1620-1550-1460.
Reminder:
The above analysis is my personal view, market conditions are constantly changing, and the content is for reference only. No investment advice is provided!
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