Yesterday, Master's pre-buried short orders in the 59500-59900 range, after the CPI was announced at 8 pm, the market rose to around 59780. Then the market fell to around 57000 in the early morning, and the pre-buried short orders in the article also won 1500 points of profit again. However, the pre-buried long orders yesterday did not give the opportunity to enter the market, resulting in missing out on the market.
Hot topics of Master Chat:
First of all, let me briefly explain again the content of yesterday’s mid- and long-term analysis. Bitcoin did not linger around 60,000-62,500 and directly fell below 56,550, and Ethereum also fell back to 2,810.
Because this trend is faster than I expected, we still need to pay attention to this week or later, and it is expected that the market will continue to see new lows. My opinion remains unchanged. I personally believe that due to the demand for the shock structure, a new weekly low will definitely appear!
The CPI data released last night was in line with expectations, and the market was boiling for a short period of time. At present, the market generally believes that there is a high probability of a rate cut in September. Judging from the recent reaction of mouthpiece Nick and Wall Street, the probability of a rate cut in September is also increasing.
The German government currently has only 9,094 $BTC (worth $520 million), which is about 18% of its initial holdings. At this rate, it is expected that they will liquidate all BTC in the next 1-2 days.
Master looks at the trend:
BTC 1 hour:
Yesterday’s CPI index was lower than expected, causing Bitcoin to fall back into the box again.
The market is still under pressure from the repayment of Mount Gox and the German government’s sale of seized Bitcoin.
Despite the good news that CPI is lower than expected, it is difficult for the market to continue to rise because the broader market does not receive market support.
Resistance level reference:
First resistance level: 57350
Second resistance level: 58000
A falling trend line has been formed in the short term with lower lows, so it is possible to operate from a bearish perspective in the resistance range.
If the first resistance level is broken, the price of the currency will rise above the 120MA moving average, and the short-term rise can continue, but attention should be paid to the psychological resistance level of 58,000.
Support level reference:
First support level: 56700
Second support level: 56150
In the short term, we can expect a small rebound at the first support level, and short-term long operations can also be carried out after the lower shadow of the K-line is formed.
In addition, you can also pay attention to the upward trend line (purple line) suggested in the master's chart analysis. If this trend line is broken, the market may continue to fall, leading to further decline.
Today's trading suggestions:
In today's trading, while maintaining the short-term rebound trend, maintain an upward view and operate.
Note that the upward trend suggested by the master is judged as a good profit and loss ratio range. If a long black line is formed and breaks through the trend line, you can expect the formation of a lower shadow line of the K line and conduct ultra-short-term long transactions.
When both the highs and lows are lower, you need to wait patiently and observe the stop loss within the small-level trend before trying a rebound trade.
Please refer to these suggestions when trading
7.12 Master's short-term pre-buried order:
Long entry reference: 55750-56150 range, long in batches, defense 500 points, target 57350-58000
Reference for short entry: short in batches in the range of 58400-58800, defense 500 points, target 57350-56700
