On the eve of the US interest rate cut decision, CPI data will be released.It may cause crazy speculation in the market.The time for a significant price movement of Bitcoin has come.
There is still an hour and a half before the most important CPI data in 50 years will be released. Let’s talk about the market analysis directly.
(1)The first scenario:
Currently, ETH remains stable above $2300 level. If it still remains above $2280 level after the release of CPI data, there may be a strong uptrend from here.The same goes for Bitcoin.
(2) The second scenario:
After the CPI data is released, ETH may show a bearish pin bar pattern in price chart if the market trend is unfavorable. Please pay attention to the support level from 2260 to 2210. If the support level is holding and effective, ETH will still increase.The corresponding support level of Bitcoin is from 55600 to 54500.
Why is this wave of CPI data so important?
First, the market factors: the market has had a consolidation with a shakeout for more than a month after a plunge. It is time for the market to break through the consolidation to show a clear trend.
Second, the Federal Reserve’s interest rate cut will be finalized on September 19. Then this CPI will be the last valid data before the interest rate cut decision, so the entire market pays full attention to it. The entire market will judges the final Fed Reserve’s decision on the 19th through this wave of CPI data. Therefore, this market condiction brought by this wave of CPI data will be very volatile and full of trading opportunitie‼️$BTC
