August 14th empty cut: Can CPI data break through? Where should Bitcoin go in the future?
BTC/Daily Chart
At the daily level of Bitcoin, it stabilized the 10-day moving average and closed with a positive line yesterday. The price was above the previous low of 57,500. In the short term, it shows that it is a strong correction under the bullish trend. It is still easy to break through the 62,000 resistance in a short time. The biggest feature of this strong correction is that it constantly relies on the short-term moving average 5-day or 10-day ladder to force short-term fluctuations and finally usher in an accelerated unilateral pull-up. At present, today's 5-day moving average supports the 60,500 line. At this position, it is sufficient to continue to follow the trend and be bullish. The upper resistance short-term support 62,000 is expected to be unsustainable, and the resistance continues to move up to the 63,500~64,000 area of fluctuations.
BTC/4h chart
Bitcoin 4h level, combined with tonight's CPI data, the high probability of volatility will not continue to ferment. Generally, this data may be maintained within half an hour after it comes out, and will continue to return to the technical side later. Then this rule can easily become a false illusion of deception. Once it enters a strong correction, the daily operation rule is generally that it continues to rise overnight and continues to rise the next morning. For tonight, just wait for stabilization to go up. From the chart, it can be seen that continuing to rely on the 10-day moving average of 58,500 has a certain lower rail support and is also the last defensive position. It is the first bullish point to test. The short-term resistance is 62,000, followed by the range of 63,500~64,000. Once it returns to the middle rail, it is easy to rise strongly.
Strategy 1: It is recommended to go long in batches at 60000~59500, defend at 58500, and target around 63500~64000
Strategy 2: It is recommended to go short in batches at 63500~64000, stop loss at 64500, and target around 62500~62000
The above is personal advice for reference only. Investment is risky and trading should be cautious
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