CPI ahead—$ETH shrinking volume, waiting for direction to be revealed!



Brothers, the second “cake” is consolidating around 1798 with shrinking volume. Everyone is waiting for tonight’s CPI and Wosch’s remarks.

News:

At 20:30 tonight, the June CPI data will be released. The market expects headline CPI YoY to fall from 4.2% to 3.8%, but core CPI is expected to only edge down slightly to 2.8%. The Fed is really watching core inflation—if it stays sticky beyond expectations, the probability of a rate hike in July will increase further.

Meanwhile, Fed Chair Wosch will testify before Congress for the first time tonight. The market is watching whether he will signal the rate-hike expectations that have been warming up recently.

Technical analysis:

Resistance overhead: 1802–1820. If it breaks through, look for 1840–1850.

Support below: 1778–1780. If it breaks down, look for 1750–1760.

Personal take:

The second “cake” is riding along the upper BOLL band, but volume is shrinking—this indicates the bulls are waiting for a catalyst. The CPI data will determine the short-term direction; don’t trade based on direction before the data.

Trading plan:

Aggressive: buy on a pullback near 1770–1780.

Conservative: stay in cash and wait to act after the CPI lands.

Don’t bet on direction before the data—better to miss it than to make a wrong move. #PreIPOs第二期OpenAI认购 #沃什听证会撞上CPI
ETH5.24%
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