Crypto market analysis 8.16   The possibility of a hard landing is reduced, and the liquidation of Mentougou has caused panic

                The situation of housing sales and unemployment benefits has dispelled the panic of economic recession, and the market has begun to move towards a soft landing, but interest rate cuts are always risky. Next, we must pay attention to the loss of funds during large fluctuations.

    In July, U.S. retail sales spending increased by 1% month-on-month to US$709.7 billion, dispelling people's concerns that the economy may fall into recession. Although the slowdown in hiring caused a brief but intense market panic last week, strong retail data showed that any contraction did not affect consumers.

    After the rise of U.S. stocks, the trend of cryptocurrencies and U.S. stocks is contrary to each other. It is likely that the last address distribution of Mentougou caused panic in the market, which can be digested in the short term.

Daily level market

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 Daily level:   The daily level is mainly oscillating and repairing. Pay attention to the retracement in the short term. The bottom support is around 54,500, and the large-level pressure is around 64,000 and 61,800. 4-hour level market

 4-hour level: The weak increase in the market at the 4-hour level has become mainly range-bound, with bottom support around 56,000, recent support around 57,500, upper pressure around 59,500, and maximum pressure around 61,800.

Intraday level analysis: Bitcoin's recent sharp drop is a normal phenomenon, mainly due to the uncertainty of American politics. As well as the current economic instability, there may be a risk of a hard landing on the news at any time. The current sharp drop and surge are normal, just keep yourself alive, and don't worry too much about other things.

· Intraday decline to find the bottom: The intraday hourly decline trend is mainly, but it is believed that it is close to the bottom and a rebound can occur during the day. The upper pressure is around 58,800, and after breaking through, it will be around 59,800. The maximum pressure is around 60,800. If it fails to break through and step back, pay attention to the support around 57,700-57,300.

The spot market needs to safely pass through this difficult moment in the history of encryption and remain calm in the face of things. #美国CPI数据连续第4个月回落 #美联储何时降息？