CPI is positive.
Bitcoin market analysis
Market sentiment
The CPI data is out, which is good news, but the complexity of trading lies in the fact that the market trend is often inconsistent with user expectations.
CPI is positive, but retail investors are also bullish, which increases the risk of a market scramble. Although the final possible outcome is the same, the process is not necessarily the take-off that everyone expects.
The above is my guess about market sentiment.
From the perspective of technical analysis
The price around $60,000 is a fiercely contested area.
The current market has rebounded to $60,000 and needs to test the pressure level here. The probability of passing it in one go is not very high.
Parallel channel + descending trend line
The previous upward surge reached the upper edge of the parallel channel, and further up is the downward trend line since around 72,000. The current corresponding point is around US$60,500.
From the perspective of technical analysis, the upper edge of the channel + the downward trend line is a relatively clear resistance level. If there is no breakthrough here, there will be no room for upward movement.
In short, I think the market still needs some polishing. #BTC下跌分析
