BTC drew a cross overnight. Before the US inflation data was released last night, it once rose to 58,000. Less than two hours after the inflation data was released, the bears had a hard time and pushed it down to 55.55k. Then the bulls launched a strong counterattack and reached the 58,000 high again in the early morning of today.
The US CPI in August was basically in line with expectations and rose as expected after the inducement of short selling!
Last night, the United States released the CPI data for August. The results were the same as expected, with no major discrepancies. It was basically in line with expectations. Because the 25-point interest rate cut on the 18th is a done deal, the CPI data for August will definitely provide data support for the interest rate cut. Even if it is fake data, it must provide a basis for the interest rate cut. Do you understand? Therefore, the CPI data will definitely meet expectations.
Yesterday's market review, the result of the debate between Trump and Harris came out in the morning. Trump almost lost. The president who knows the most about cryptocurrencies lost the debate. Naturally, the cryptocurrency circle paid the bill, so it was reasonable for Bitcoin to fall by $1,000. In the evening, the CPI data was released, and the US stock market opened sharply lower. As a younger brother of the US stock market, Bitcoin followed the decline. At this time, it had fallen to around 55,700. Many people had already chased the shorts. Since there were so many people chasing the shorts, it was reasonable for the dog dealers to take the opportunity to pull the market and explode the shorts. The market V-reversal was achieved in 2 hours. The leeks lost money and kept stopping losses.
At the time of writing, Bitcoin is 58,300 USD. From the K-line, the 1-hour and 4-hour levels are in an upward trend, but the strength is not very strong, and it feels like the last wave. The 12-hour and daily levels are in an upward trend, and there will definitely be intraday corrections. The intraday pressure level is 59,700, and the support level is 56,600.
ETH rose synchronously with BTC and stabilized above 3650. It is expected to make up for the increase during the day. You can consider continuing to buy. ETH's on-chain GAS has fallen to a new low in 5 years. The on-chain environment is sluggish and is close to the bottom line. Keep holding, a new round of rising cycle is not far away!
Now the Fed has shown its cards!
It depends on both inflation and employment. Low inflation does not hurt the economy, so interest rates can be cut, which is like adding sweetness to sweetness. Poor employment and economic recession require interest rate cuts, which is like adding sweetness to bitterness. Sweetness on sweetness will be sweeter. Adding sweetness to bitterness may still be bitter. When the market realized the good intentions of the Federal Reserve and used such clever guidance to hint the market about their views on the future market, the market immediately responded enthusiastically with a sharp rebound. Huang Renxun released good news at the right time, using a loudspeaker to shout orders, which directly reversed the decline of the Nasdaq, turned upward, and beat the shorts to a pulp.
A double explosion of long and short positions, nothing more than that.
The institution in the world that best understands how to gauge public psychology is none other than the Federal Reserve.
The market continues to be bullish in the past two days, and you only need to be well defended two days before the interest rate cut. The interest rate cut is approaching, and there is a possibility of a higher correction on the eve of the interest rate cut cycle and in January and February. This is the case for every round of interest rate cuts, but the big cycle is absolutely positive, and you need to wait patiently. The expectation of a 50 basis point interest rate cut in September has declined, but the big cycle expectation has not changed, and the bull market expectation is still there!
This brother made $4,000 in three days!
How to layout the market next:
Currently, the copycat sector has not followed the mainstream in a significant rise, but PEOPLE has good mid-term expectations before the November election. CKB can consider continuing to follow up and continue to hold and wait for subsequent positive news. PIZZA has had many callbacks and is still in the process of getting PIZZA SWAP online.
There are also four fools in the inscription:
1. Rats are about to break through the downward trend line
Second: SATS is supported by the lower trend line and is currently consolidating at the bottom. Currently, many profit-taking orders that have been ambushed in the flying network have been sold out. SATS can continue to be held. If it rises to around 50, the position can be cleared and the mid-term holding can be seen to around 80.
Three: Ordi is also at the end of the adjustment period and is following the trend of the market closely.
Fundamental news: Unemployment benefits data will be released at 8:30 tonight, please pay attention!
