#BTC☀ /#ETH🔥🔥🔥🔥 Disk interpretation: This week's key data is coming. Can it successfully break through the key point and stand firm tonight? What position should be paid attention to when falling back?
At 20:30 tonight, the US CPI data for July will be released. This data will have a certain impact on the benchmark for the interest rate cut in September, and may even have a direct impact on the US economic recession theory.
BTC pre-market sentiment is good, and bulls are obviously active. Let's see the key points tonight.
BTC breakthrough task tonight:
61,800 daily mid-line key position, 62,400 daily MA200 key position,
The former determines whether the price can continue to rise to the daily upper rail resistance of 70,000, and the latter determines the short-term key resistance. After all, the market has repeatedly tested the MA200 breakthrough in recent days and failed. Whether it can break through with the help of CPI tonight is very much expected.
It should be noted that the breakthrough and stabilization must be clear. According to the current market reaction, it is recommended that after the breakthrough position, a 4-hour line is formed to stabilize before it can be judged as stabilization (personal judgment). Radical friends may think that the 15-minute or 1-hour line is stable and it is considered a breakthrough.
Pay attention to the defensive position when stepping back, hourly level 59,800/58,000
Extreme defense, weekly line 56,200
RSI: Index 50, an increase of 7 compared to yesterday, overnight bullish sentiment rose rapidly, and remained neutral in the short term.
ETH and BTC are the same,
Breakthrough task, 2860 daily line mid-line key point,
Retreat defense, hourly line 2660/2590,
Extreme defense, weekly line 2500
RSI: Index 46.8, compared with yesterday's index rose rapidly, bullish sentiment increased significantly, but unfortunately the market increase is a bit disappointing.
Summary:
The CPI data will be released at 20:30 tonight. I personally expect it to be positive, but the increase may be 2,000 points, which is the limit. It is very likely that it will not be stable after breaking through MA200, so you must pay attention to the stabilization before chasing more.
At the same time, the market may not be big after the release of CPI data, because the US stock market needs to ferment first, and wait patiently for the situation after the opening of the US stock market, and then the encrypted increase should continue until the early morning or after the closing of the US stock market. Pay attention to control the nodes.
