A brief discussion on tonight's views on CPI, first let's simply popularize the impact of data!

CPI lower than expected: interest rate cut expectations rise, the dollar weakens, and liquidity easing expectations are positive for the cryptocurrency market!

CPI higher than expected: the Federal Reserve may delay interest rate cuts, maintain high interest rates, the dollar continues to strengthen, and liquidity tightening is negative for the cryptocurrency market.

CPI in line with expectations: there is a high probability of a neutral oscillating pattern, which has little impact on the cryptocurrency market!

Let's talk about the current structural market and the views on tonight's CPI news. The current hourly structure has formed a strong 4 consecutive bullish structure, very similar to the previous trend before yesterday's non-farm data. Considering the impact of the news, it is highly likely to probe upwards. If the CPI data is released and is lower than expected, it is very likely to continue probing upward to yesterday's 4-hour upper shadow point of 90000. If the CPI data released is higher than expected, Hongshen believes it will also initially make a move up before declining!

So tonight's operation will still revolve around the support level, first taking a long position and then going short! Bitcoin can be cautiously bought near 86300, with the key support level at 84800 still serving as the defensive position for long positions, targeting upwards at 87800 and 88500. If it continues to break down, we can continue to watch the 90000 level. If it cannot hold, we can reverse to enter short positions. #BTC #ETH