The latest CPI data released by the U.S. Bureau of Labor Statistics last night showed that the consumer index growth rate fell to 2.5% in August, lower than the expected 2.6% and lower than 2.9% in July. While in line with expectations, it was also the fifth consecutive month of slowdown, the lowest level since March 2021.
　
The core CPI in August, which excludes food and energy prices, increased by 3.2% year-on-year, the same as expected and the previous value, but the core CPI month-on-month comparison was slightly higher than expected, at 0.3%, pushing the core CPI month-on-month data slightly beyond expectations, reducing the possibility of the Fed cutting interest rates by two basis points this year. After the CPI data was released, the market believed that the probability of the Fed cutting interest rates by one basis point this month had risen from 66% yesterday to 85%, and the probability of a two basis point cut was reduced to 15%.
　
Looking back at the crypto market, Bitcoin fell after the opening of the U.S. stock market, and reached a low of $55,555 at around 22:45. However, it then began a V-shaped rebound, reaching a high of $58,470 around 10 o'clock this morning, and then began a volatile decline in the Asian session. As of the time of writing, the price was $58,077, up about 0.8% in the past 24 hours.
　
Bitcoin four-hour chart

　
From the MACD indicator in the 4H level chart, although the short-selling force has weakened, it still exists and may continue to adjust or fluctuate in the short term. The KDJ line values ​​are all at high levels, indicating that the market is in an overbought state and there may be a risk of a correction in the short term. RSI is in the neutral to strong area, and the bullish force is slightly dominant in the short term, but the market momentum is not strong. The upper and lower rails of the Bollinger Bands have a slight opening trend, indicating that market volatility will increase and the price is close to the upper rail. If it cannot effectively break through and stabilize, it may fall back to the middle or lower rail.
　
Bitcoin one-hour chart
　

From the MACD indicator in the 1H level chart, the DIF line slightly crosses the DEA line near the 0 axis, showing signs of forming a dead cross. The MACD green bar chart shows that the market short-selling force has increased slightly in the short term, and there is a risk of a callback. The KDJ three-line values ​​are all hovering around 50, indicating that the market is currently in a volatile stage, and the market direction is unclear in the short term. The upper and lower rails of the Bollinger Bands are slightly closed, indicating that volatility has weakened, and the market is about to enter a consolidation range, and further breakthrough directions need to be waited for. RSI is in the neutral and bullish area. Although the market is slightly bullish in the short term, the momentum is not very strong.
　
In summary, the following suggestions are given for reference
　
Bitcoin rebounds to around 58650 and goes short, with a target of 57300-57000 and a defense of 59100.

It is better to give you a correct idea and trend than to give you a 100% accurate suggestion. After all, it is better to teach a man to fish than to give him a fish. Suggestions can make money for a while, but ideas can make money for a lifetime! What I focus on is the idea, the grasp of the trend, the layout of the market and the position planning. All I can do is to use my practical experience to help you so that your investment decisions and business management will be on the right track.
　　
Writing time: (2024-09-12, 18:30)
　
(Text - Daxian Shuobi) Hereby declare: There is a delay in online release, and the above suggestions are for reference only. The author is committed to research and analysis in investment fields such as Bitcoin, Ethereum, altcoins, foreign exchange, and stocks. He has been involved in the financial market for many years and has rich experience in real-time operations. Investments are risky, and you need to be cautious when entering the market. For more real-time market analysis, please pay attention to Daxian Shuobi, a Chonghao account, to discuss and communicate together. $BTC