Daily Analysis
1. Tonight's CPI data is of utmost importance and is likely to create a one-sided market, making it easier to judge bullish or bearish trends.
2. Insider's long position has a floating loss of 70 million; why hasn't it been closed? This long position shows madness, either it earns a lot or loses a lot.
3. The semi-divine Xia is still calling for long positions, but after the door was drawn yesterday, emotions are lower, and bullish momentum is weak.
Influenced by expectations of interest rate hikes in Japan, the seven sisters of the US stock market opened low and fell further, with NVIDIA already dropping to a low point from a month ago. The US stock market is struggling, and hoping for the cryptocurrency market to perform well is basically a dream.
The cryptocurrency market has drawn a narrow door, truly like the protagonist of 'The Narrow Door', teasing the market, possibly seeing a floating profit one second and a floating loss the next, referencing Brother Ma Ji.
Bitcoin is retesting the recent low of 852, not breaking below it, but upward momentum still seems insufficient. The 4h trendline coincides with the resistance level at 872, forming a double resistance level. Combined with the trend of the US stock market: the US stock market has already broken an important support level and has reached the midpoint of the last major correction, making shorting more comfortable.
If tonight's CPI is favorable, there is still a possibility of continuing to draw the door, after all, the negative impact of Friday's interest rate hike in Japan may not be fully digested. From the current trend, it seems not yet fully over, and there are still many positions not fully withdrawn from the Japanese market.
btc strategy 852-840 gradually buy long 890-910 gradually sell short
Apart from BTC, other cryptocurrencies have already broken below previous lows. ETH is in an almost perfect downward channel; although the downward channel looks bullish, considering the broader context is bearish, the bullish probability does not reach 75%.
If trading based on the channel's logic, the current decision line is at 2750; buying long at 2750 is a very good position. Because ETH's upward momentum is relatively weak each time, and every drop is rapid, shorting at high levels would be more advantageous.
eth strategy 2750-2700 gradually buy long 2980-3020 gradually sell short
