Technical analysis -- Small pullback, big rise, when will it rebound?
------Wall Street has poured cold water on the Fed's expectations of rate cuts. The Fed's expectations of rate cuts have deviated from the track. The recent events must wait for CPI to adjust the current mood. Now all the data are in the expectation that the Fed will not cut interest rates. Many hawkish Fed officials said that there will be no rate cuts this year, and the market began to panic. Now the bulls need time to wait for CPI to release news and the market to consume the Fed's hawkish expectations. However, once there is really no rate cut, the market will change greatly due to the emotional impact.
-----Bitcoin's intraday chips show a relatively balanced outflow state. For the time being, Bitcoin's ups and downs are normal. Everything is fine. The market is digesting the interest rate cut sentiment and waiting for CPI news.
There are too many Bitcoin bulls during the day. It may still go to the bottom to continue to test the bottom and then consider the rebound of the support position. There is no rush. The hot spot is to ambush the Bitcoin ecosystem and other primary markets.
Daily level market
- In the daily level rising trend, the middle rail support becomes pressure after breaking. When it rebounds to around 70,000, we need to observe whether it will continue to fall. The bottom support is around 67,700 and the lower rail of the large-level channel is around 65,800.
4-hour level market
-The 4-hour level is still in a downward trend in the short term, with upper pressure around 69,500. Pay attention to the breakthrough. After a successful breakthrough, there may be a good rebound in the late trading. It failed to break through the bottom support position of around 68,000.
Intraday level analysis
---- Bitcoin is falling, with upper pressure around 70,000 and the first support below around 68,500. After breaking, 68,000 is paying attention to the break. The market did not quickly bottom out. The intraday hourly level is still dominated by shorts, 4-hour short trend, and the daily line and other large levels are rising trends, so now just pay attention to which support position the small level stops. #大盘走势 #BTC #CPI
