Attention! Big events are happening in the market tonight. Can you still hold your BNB position? I am Qi He, a senior analyst who has been navigating the crypto world for many years. I just saw two key pieces of information that made me alert instantly, and I must share them with everyone.
Looking at the news: At 21:30 tonight, bombshell data is coming!
The U.S. November CPI data, unemployment claims, and more will be announced. Why is this data so critical? Because Federal Reserve Chairman Powell said that their next policy will focus on employment and inflation. If the CPI is higher than expected, the market will believe the Federal Reserve won't dare to cut interest rates, which is a big negative; if it's lower than expected, it may stimulate a rebound. Goldman Sachs analysts also mentioned that the Federal Reserve's 'preventive rate cuts' may be coming to an end, and they will only loosen policy if the data worsens.
Looking at the technical aspects: the situation is not good!
Now looking at BNB's hourly chart, the price is 836.5, having already broken below the key level of 840. The MACD is below the 0 axis with a death cross, which is a clear signal of a downward continuation. The upper resistance level is 880, while the strong support level below is 810. From a purely technical perspective, bears have the advantage, and there is a demand for a further drop to 810.
What should you do now?
Aggressive traders: You can place staggered buy orders near the support area of 810-815, betting on a technical rebound, but be sure to set stop losses and keep your position light.
Conservative traders: The best strategy is to wait! Wait until the data is released at 21:30 tonight and see the market's first reaction. If the price stabilizes above 850 with increased volume, it indicates that bulls may retaliate with favorable news; consider a small position to chase the rise, targeting 865-880.
Qihe's clear viewpoint:
I believe that before the data is released, market sentiment is cautious, and BNB is likely to maintain a weak consolidation, possibly even testing the 820-810 area in advance. When the data is released tonight, there will be a sharp 'two-way spike' in the market. My core judgment is: reaching 880? It's extremely difficult! Because the current technical formation is a downtrend, reversing it requires very strong positive news. The greater possibility is that, relying on negative data, it will test the support levels of 840 or even 810 again.
Tonight's CPI is not just a piece of data. It concerns the Federal Reserve's trump card and is more about the overall trend of the cryptocurrency market for the next month. Will BNB make a comeback tonight or fall into the abyss? The key lies in the 'true breakthrough' direction within half an hour after the data is released. I will share my final judgment and precise points as soon as the data is released, in conjunction with real-time market conditions.
If you don't want to be a victim of the violent fluctuations tonight, and if you want to know how Qihe interprets the far-reaching impact of this data on the future market, follow me! Tonight, let's keep an eye on the market together, and don't miss it. With Qihe, you will gain not only viewpoints but also practical methods and a calm mindset to navigate through bull and bear markets. Find Qihe Village.
