Today's market analysis
Brothers, it's amazing! The CPI data for April just released is crucial to the market conditions in the future. Let's analyze it in detail.
Last night's market trends
Last night's PPI data was not ideal, and the market experienced a short-term market crash, but fortunately there were a large number of short orders above $62,000 to avoid a larger correction. Fed Chairman Powell's speech still did not give a clear time for interest rate cuts. Although the PPI data lowered expectations, tonight's CPI data is the real key.
The impact of CPI data on the market
We have discussed in the community before that if the CPI data is higher than expected, the market may fall sharply, and the support level of $60,000 will be difficult to hold, and may even trigger panic selling in the altcoin market.
If the CPI data is in line with expectations, the market may fluctuate briefly and then resume upward. Although there will be some fluctuations, it will return to the right track overall.
If the CPI data is lower than expected, the market will have the opportunity to rise sharply, and friends with fast hands will be able to get rich returns.
Current market status
Obviously, tonight's CPI data is good news, and market confidence has been boosted. Recently, except for the good performance of meme coins, other altcoins are still in the adjustment cycle, WLD has performed poorly, the dealers have serious shipments and the pressure to unlock is high.
Future market expectations
The market rebound is not over yet. The current price of Bitcoin is $65,500. It is expected to continue to rise after consolidation, and the upper resistance is $70,000. It is necessary to observe whether the bullish sentiment can continue. The key lies in the breakthrough of the $67,500 position.
In terms of altcoins, meme coins continue to lead the rise, pepe and GME perform strongly, and other altcoins are still in the adjustment stage and need to wait for further bottoming signals.
Strategic recommendations
In the current favorable situation, don't be overwhelmed by short-term fluctuations. Each strategy implementation needs to be based on multi-faceted data collection and analysis. At present, it is recommended to wait patiently for the market to pick up and observe the real trading volume and capital trends in the market.
Regarding AEVO, the current unlocking pressure is high and it is not suitable for current intervention. If you want to know more about strategies and coin selection logic, please follow our discussion and let us make money together in the coin circle!
