#BTC☀ /#ETH🔥🔥🔥🔥 Interpretation of the market: The daily "death cross" appears, and the lower track pressure is downward. If the CPI cannot break through this week, the volatile decline may continue until before and after the interest rate cut!
This morning, Musk's conversation with Trump was indeed the worst option expected, which brought short-term heat to the crypto dog and created tens of thousands of dogs in the short term, but it did not bring any positive impact on the BTC market.
The next important thing is tomorrow's CPI data. If it cannot break through 62,000, the volatile decline may continue until before and after the interest rate cut. At present, the daily dead cross has been formed.
BTC:
The daily line moves down and forms a dead cross with MA200. The current daily midline position is 61,900, and it forms a daily lower track with the daily line lower line 53,200. The price may continue the oscillation mode again.
For a short-term decline, pay attention to the 58,200 hourly level.
RSI: Index 43, the relative strong team index is slowly declining, and market sentiment has obviously weakened.
ETH:
The lower track runs between 2880 and 2220, and the same lower track oscillation trend as BTC, after all, it has to follow the market.
For short-term declines, pay attention to the rebound at the 2550 hourly level support. At present, the ETH hourly line trend is stronger than BTC, and the price is in the 4-hour upper track with a low amplitude oscillation.
RSI: Index 38.74, the relative strength index is slowly declining compared with the same data yesterday, and the market sentiment is declining.
Summary:
Although I think the current market may continue to continue the oscillating downward trend, it is necessary to understand that the decline is not achieved overnight, and there may be a rebound during the period, especially the rebound that may occur at the 4-hour level of the decline support, and if the CPI data this week brings better economic sentiment, the market may rebound.
Personally, if CPI rebounds tomorrow, once it reaches 62,000 and fails to break through or cannot stand firmly, it can continue to see a oscillating decline.
Judging from the macro sentiment on Monday this week, the sentiment is not too good. BTC's advance price retreat is below 60,000, and CPI may not bring too much bullish sentiment.
I will continue to use today's data to prove this point later.
