Yesterday afternoon, Bitcoin (BTC) rebounded strongly to around 64,000 points, encountered upward resistance, and then entered the callback mode. We accurately captured the short-selling opportunity in the afternoon and successfully gained a generous profit of 700 points. In the early morning of today, the market entered a shock consolidation phase. The price of Bitcoin once dropped to the important support level of 62,800, and then showed signs of rebound. The current price fluctuates around 63,100.
Operation strategy recommendations:
Bitcoin (BTC): In view of the current market atmosphere and price trends, it is recommended to look for short-selling opportunities in the range of 63,500 to 63,800, with the target looking at the range of 62,700 to 62,000, and strictly set stop losses to control risks.
Ethereum (ETH): For Ethereum, a cautious short-selling strategy is also adopted. It is recommended to arrange short orders in the range of 2700 to 2730, with the target set in the range of 2660 to 2620. When operating, it is necessary to flexibly adjust the strategy in combination with market dynamics.
Market News Express:
US PPI in July was lower than expected: This data shows that the growth of the US producer price index has slowed down, which may have a certain impact on the market's inflation expectations. We need to pay close attention to its subsequent impact on the cryptocurrency market.
When will the Fed cut interest rates? : The market generally pays attention to the Fed's monetary policy trends, especially the timetable for future interest rate cuts, which will directly affect the liquidity and risk appetite of the global capital market.
US CPI data fell for the fourth consecutive month: There are obvious signs of easing inflationary pressure, which provides a certain space for the Fed's policy adjustments and is also one of the current market focuses.
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In summary, when investors participate in market transactions, they should comprehensively consider the above-mentioned macroeconomic factors and specific technical performance, make rational decisions, and operate prudently.
