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The United States will release CPI data next Wednesday. Everyone is worried about a rebound in inflation. If the CPI is higher than the previous value of 3.5%, it will undoubtedly be bad news. Therefore, next week may be a turning point in the market.
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Green Plum Coin: Bitcoin from the perspective of chip distribution
Today let’s look at Bitcoin from the perspective of chip distribution.
First, the distribution of chips since the highest point of 73777.
The Bitcoin market has fallen below the chip peak and is operating below the chip peak. Anything above $64,000 is a chip pressure zone.
Secondly, the distribution of chips since 38555.
After the market fell below the upper chip peak, the clearer support below is the middle chip peak (as shown in the figure), and the corresponding point is 51750, reaching the support area of 50000 - 53000.
Third, the chip distribution chart since 25,000.
It can be seen that 50,000 - 53,000 is just a short stay period in the rising process. If the macro market turns to decline, this may only be a fulcrum for a rebound, but it is not enough to become the bottom.
First, the distribution of chips since the highest point of 73777.
The Bitcoin market has fallen below the chip peak and is operating below the chip peak. Anything above $64,000 is a chip pressure zone.
Secondly, the distribution of chips since 38555.
After the market fell below the upper chip peak, the clearer support below is the middle chip peak (as shown in the figure), and the corresponding point is 51750, reaching the support area of 50000 - 53000.
Third, the chip distribution chart since 25,000.
It can be seen that 50,000 - 53,000 is just a short stay period in the rising process. If the macro market turns to decline, this may only be a fulcrum for a rebound, but it is not enough to become the bottom.
Disclaimer: Includes thrid-party opinions. No financial advice. May include sponsored content. See T&Cs.
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