The current market trend is still in a high-level oscillation period.
During this oscillation period, we still pray that the oscillation time is shorter. The longer the sideways oscillation time at this position, the greater the risk of future correction.
Once the bulls' strength is exhausted, the market may turn downward.
However, downward is actually a very healthy trend. The market needs to pull back to around 64,000 to confirm the Bollinger Bands. It is better to start rising again after confirming the support at this position.
Now the market volume seems to be a little insufficient. Although it is rising, it looks very weak. If it cannot rise in volume, the market is unlikely to break through 68,000.
From the market, the rising channel has not gone bad. The oscillation range of the 4-hour Bollinger Bands is between 660,000 and 680,000. In theory, it can be sold high and bought low, but in the current tense situation, the bulls may be suppressed, so we should move the space below down to around 64,000.
Today, operational suggestions have been given, and you can refer to them.
We all know that this round of rise is due to the positive CPI. Although it is only in line with expectations rather than exceeding expectations, it has made the market crazy.
This means that inflation has begun to decline, so both US stocks and Bitcoin have started a wave of growth.
So the impact of current market news is far greater than the technical side.
