The US CPI in August basically met expectations and rose as expected after the inducement
Last night, the United States announced the CPI data for August. The results were the same as expected, with no major discrepancies, and basically met expectations. Because the 25-point interest rate cut on the 18th is a foregone conclusion, its 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? So the CPI data will definitely meet expectations.
As for the next interest rate cut, it must be after the presidential election. The Federal Reserve will definitely sell the new president a face and cut interest rates by 50 points, similar to the ancient emperors who granted amnesty to the world after ascending the throne. Do you understand? No matter who the new president is, the first interest rate cut of 50 basis points must be after the new president takes office. He will release a lot of money to stimulate the economy and win the support and goodwill of the people. This is a card that the Federal Reserve must play, which is almost the same as an open card.
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 cryptocurrencies best lost the debate. Naturally, the cryptocurrency circle paid the bill. So it is natural that the price of Bitcoin fell by $1,000. In the evening, the CPI data was released. The US stock market opened sharply lower. As a younger brother of the US stock market, it is normal for Bitcoin to follow the decline. At this time, it has fallen to around 55,700. Many people have already chased the short position. Since there are so many people chasing the short position, it is reasonable for the dog dealer to take the opportunity to pull the market and explode the short position. The market V-reversal was achieved in 2 hours. The leeks are losing money by constantly stopping losses and cutting meat.
At the time of posting, Bitcoin is 58,300 US dollars. From the K-line, the 1-hour and 4-hour levels are rising trends, but the strength is not very strong. It feels like it is rushing the last wave. The 12-hour and daily levels are rising trends. There will definitely be intraday corrections. The general direction before the interest rate cut is implemented is bullish. The intraday pressure level is 59700, and the support level is 56600.
