The market has been rather sluggish recently. One reason is that the expectation of interest rate cut has been postponed (there will not be any interest rate cut in June even). In addition, the market expects the CPI data for March to rise. Inflation may come back. The Federal Reserve needs to maintain high interest rates for a longer period of time, and there may even be stagflation like the 1970s.
So the market is waiting for today's data.
Subjectively, I believe that as long as the CPI meets expectations, it should be interpreted as a positive, because the recent market decline has already priced in the failure of interest rate cuts and the rise in CPI.
From a very short-term perspective, there should be significant disorderly fluctuations before the CPI is released, so it is better to avoid high-multiple contracts.
Back to the market, $BTC there is a trend line support in the short term. In addition, BTC just hits the middle track of the daily BOLL, which should be a good support level.
Here you can avoid the news and not take action, but it is best not to go short at this position. Even if you want to go short, wait until CPI exceeds expectations or the technical side falls below support.
If it falls below in the short term, the next support is around 66500.
$ETH It won’t be strong for just one day. The market has been like this from last year to this year. As soon as ETH rebounds, the market falls.
Judging from the chart, there is also a head and shoulders bottom support and the daily BOLL middle track support, and the technical side is bullish.
If it falls below 3230, don’t go short if it doesn’t fall below the short-term support.
From the perspective of BTC and ETH, the short-term technical aspects are both bullish. If CPI meets expectations, it should also be a positive news, and we are not overly bearish on the market.
The linkage of the cottage, the new currency $SAGA performs well, the ultra-short-term triangle converges, the lower edge of the triangle can be long, and the stop loss is broken. If the upper edge breaks through, you can chase it. Try not to short.
#tnsr The trend is very weak, with support at the previous low.
#W The trend is also very weak, falling below the opening low, with no support below, and bottom-fishing is all guessing at the bottom on the left side, with no technical reference. A real turn for the better requires a breakout of 0.93.
#ENA Too strong, with a trend line as support, each time you step back on the trend line, you can have a big increase. When it effectively falls below the trend line, it will be considered to be weak.
