November 10, Tuesday Midday Market Analysis

BTC and ETH are still pulling back, with resistance overhead continuing to weigh on prices. After rebounding from their lows, they tested 75,500 to the upside three times in a row, but failed to break through effectively each time. The rebound highs have also edged lower, clearly showing that selling pressure overhead is extremely heavy.
I think tonight’s CPI report is extremely important! It could determine whether BTC and ETH continue to take a beating or see a rebound and recovery in the coming days.
Remember the key point: the market’s biggest concern now is no longer delayed rate cuts, but the Fed actually hiking rates again in December!
The U.S. CPI data will be released tonight at 21:30! This really shouldn’t be underestimated: market bets on a December Fed rate hike have been heating up, and nonfarm payrolls also came in well above expectations. Inflation data will be a key variable in determining market direction!
If tonight’s CPI comes in below expectations, rate-hike pressure could ease, and BTC and ETH may see a rebound and recovery. If it meets expectations, the market will most likely continue to trade sideways. But if it beats expectations again, that will be trouble: the U.S. dollar could keep strengthening, risk assets will remain under pressure, and crypto bears may well strike again!
BTC trading recommendation: Short around 75,000, add around 75,800, stop-loss at 76,500, take profit at 74,200–73,000
ETH trading recommendation: Short at 2,135–2,150, add at 2,180, stop-loss at 2,210, take profit at 2,100–2,070