2024.5.16 BTC market analysis: #BTC #ETH #美联储

Conclusion first: The first support level: 64560 (pay attention to the consolidation situation, whether it stabilizes). The second support level: around 63000 (the bottom of the phased correction, breaking here is a new round of downward trend) 📉

The short-term positive of the big cake CPI pulled up to 66670, breaking through the key downward range resistance level in front: (around 64854). This pull-up is the fundamental positive pull-up. As for the future market trend, can it continue to rise? 📈

1⃣️: Mainly depends on whether the purchasing power of the two key bottoms of the correction is strong (demand)

2⃣️: Fundamentals (April core PCE data) are also one of the data that the Federal Reserve is most concerned about, and it will be released on May 31.

Summary: Without the support of VC institutions and Wall Street funds, the market can rebound significantly with retail investors' funds alone. In fact, more attention should be paid to the net inflow data of spot funds and the fundamentals of the Federal Reserve data. There is no need to worry about the various technical indicators. Just looking at this round of decline, it has already fallen below many technical patterns~