BTC6W is not stable, there is a chance to short❓
After the false breakthrough last night, it immediately turned back and fell, and the second bottoming out is about to appear❓❗️
Last night's data was released, and the US CPI inflation in July was basically in line with expectations. The core CPI fell for the fourth consecutive month. BTC and ETH rose upward and then oscillated violently and turned downward to form a double kill of long and short positions. This is also in our discussion and expectations. Our ETH long positions took a small profit, and then the decline temporarily ended and the trend maintained a narrow horizontal fluctuation.
This morning, the price of BTC fell slightly again. Now the 4-hour moving average forms a bonding pressure point near 6W. If BTC cannot break through and stabilize 6W at this position, it will encounter resistance and pullback as the US stock market rises, and it will be difficult to avoid a second pullback to bottom out.
So we should follow the market and enter the market with short positions in time.
After looking at the real-time trend, the volume is increasing at a small level. We will focus on the short position around 587 and choose the high point to short in🌹
