BTC 4 hours
Yesterday, Bitcoin received short-term support in the $61,000 range and is currently in a small-scale rebound trend. Given the support in the $61,000 range, at this point in time, Uncle Yang will maintain a rebound view and is optimistic about the retracement after the downward trend breaks through.
As the CPI index is released today, BTC may fluctuate significantly during the release period. If you hold positions before 21:30, it is recommended that you strictly set the take profit and stop loss.
The importance of this CPI release is that if inflation falls, it may lead to expectations of interest rate cuts. If CPI is lower than expected, bulls may make a comeback.
Today, the first resistance level is 62200, and the second resistance level is 63000. When the BTC price breaks through the first resistance level, Uncle Yang expects that BTC may retrace to the $63,000 range.
Before the CPI release, Bitcoin fluctuated in a downtrend line. If the price breaks through the resistance of the downtrend line, then Uncle Yang will turn bullish.
The first support of the day is 61460, and the second support is 61000. First of all, the first support is an important support line. If it falls below this support line in the short term, the BTC price will fall below the low point, and $61000 may be lost.
Therefore, once the price falls below this support, friends who hold long positions need to pay attention to the risk of a sharp decline.
If you can’t grasp the market, please follow Uncle Yang, a KOL who will take you through the bull and bear markets of the crypto market. He will analyze daily market changes, provide reference suggestions for bull market deployment, and share them in the contract and spot communities!
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