Hello brothers, I am trader Zhu Yici. The US will release CPI data at 8:30 tonight. I think this is a potential turning point. The trend in the past few days is in line with my expectations.

Since August, there has been a very obvious pattern in the market trend, that is, the market's lowest point is around the 8th of each month. This time point is often accompanied by the release of important economic data, and then the market starts to move up. The last few days of the month are the high point of the stage market, and then it goes down all the way. You can verify this with the K-line chart.

The current trend is still in line with this rhythm. It depends on whether there will be another wave of upward trend. The prices of various currencies have also come near the previous key support levels. Whether they can withstand the test of the third decline, if successful, can be regarded as repeated bottoming out.

The disadvantage is that the long positions are very large now, and it is very likely that a pin will be inserted to clear the long leverage first, and then reverse. Contract players should still pay attention to short-term risks. In response to this situation, I have another guess. The main force will not take the lead in pulling Bitcoin, where long positions are concentrated. Instead, it will use Ethereum, which has not been optimistic about the market for a long time, as a breakthrough point, lead a group of copycats to rush upward, create a money-making effect, and attract liquidity. Coupled with the Ethereum upgrade narrative at the end of the year, the actual market also gives me the feeling that Ethereum is stronger. This is the script in my mind, and everyone can just laugh it off.

This round is very difficult and it’s not easy for everyone. Let’s persevere to the end. I believe the bull is still there and we can get the desired results!