Tonight's CPI impact on the crypto market, along with operational ideas

Let me briefly explain how CPI data will affect the crypto market:

If the CPI value is lower than expected, the market will feel the possibility of the Federal Reserve lowering interest rates increases, the US dollar will weaken, and market funds will be more loose, which is good for the crypto market;

If the CPI value is higher than expected, the Federal Reserve may delay lowering interest rates and continue to maintain high rates, the US dollar will strengthen, and market funds will tighten, which is bad for the crypto market;

If the CPI value is about the same as expected, the crypto market will likely maintain a volatile trend, and the impact of the data will not be too significant.

Current market situation and views on tonight's CPI:

The hourly chart has already shown 4 consecutive bullish candles, and the trend is quite strong, resembling the trend before yesterday's non-farm payroll data was released. Considering the news, the crypto price is likely to continue testing upwards.

If the CPI is lower than expected, the crypto price may very likely challenge the 90000 level of the upper shadow on the 4-hour K-line from yesterday;

Even if the CPI is higher than expected, I believe the crypto price will first rise before falling.

Therefore, tonight's operational idea is still to start with long positions around the support level, and after rising to a certain level, switch to short positions:

Bitcoin can be bought with a small position around 86300, with the key support level at 84800 as the stop-loss level, and the target first looking at 87800, 88500;

If it can continue to break through, keep an eye on the 90000 level. If this level cannot hold, then it can be switched to a short position. $BTC $ETH