CPI will be announced this Thursday. Can BTC and ETH soar to the sky?
Yesterday's review
Yesterday, BTC price fluctuated and pulled back to around 62,000, with a stable overall trend. ETH also followed BTC's footsteps and pulled back to around 2,400. At present, the market remains on the sidelines, waiting for the release of CPI data this Thursday, which is expected to bring good news and push prices further up.
Intraday analysis
The short-term and daily technical indicators of BTC and ETH are both healthy, and you can consider following up during the day. BTC's support below is at 61,500-62,000, and the upper resistance is 63,500-64,000. ETH's support range is 2,360-2,400, and the resistance is 2,500-2,530.
As the golden cross of the daily and weekly lines gradually takes shape, Thursday's CPI data becomes the key. If the data is positive, BTC and ETH are expected to break through the resistance and start a new round of rise. In addition, favorable factors such as the general election and interest rate cuts will also bring support to the market.
Altcoin Opportunities
During the period of mainstream coin consolidation, some altcoins showed high explosive potential. SATS can continue to be held, with a target of clearing positions around 50. PEOPLE is held in the medium term, and there may be good returns before the election. CKB continues to wait for the ecological outbreak after reducing its position. At the same time, high-quality altcoins such as SSV, BB, and DOGS are also worth mid-term layout.
Special attention
OKB: Recent performance is strong, and the trading price is close to the cycle high. It is expected to rise slightly in the next few days and is expected to hit a higher price this year. BNB: It has attracted much attention due to the launch of Binance's new project Scroll. It has high liquidity and stable price increases, and is optimistic about the future. MKR: It is expected to maintain between the current price and US$1,960 in the short term. If it breaks through, the increase this year can reach several times.
Fundamentals and market sentiment
CPI data will be released soon, and market sentiment remains neutral (greed and panic index is 49). Investors should pay close attention to data trends and grasp the market rhythm. At the same time, the altcoin market is also worth digging deeper to find potential high-growth opportunities.
In summary, BTC and ETH may continue to consolidate today to accumulate power for tomorrow's rise. The altcoin market has many bright spots. Investors can choose suitable investment opportunities according to their own risk preferences.
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