$BTC still falling!
Last night’s CPI came out and briefly pushed to 64,500, only to be pushed back. Today is even less interesting—it's just churning between 63,200 and 64,000, and trading volume is also low.
I think the bias is bearish, but I don’t believe this area will produce a smooth, uninterrupted crash.
Because 64,500 has been capping price for the second consecutive time, and it also happens to line up with the 50 EMA—so the resistance is extremely firm.
On the other hand, 63,200—63,400 has support, and the bears’ own momentum/volume is also not strong.
My plan:
Short 63,600—63,800; first look for 63,200, then 62,650. If you want to be safer, wait for the PPI release.
If it rallies into the 64,500 area and stalls, keep shorting; if it directly breaks below 63,200, wait for confirmation before following.
At the moment, my most favored target is still 62,650, because by the time price reaches there, the bears still haven’t expanded their volume—so the risk-reward for further deep downside won’t be as attractive.
#美国7月CPI与PPI数据本周出炉 #俄罗斯央行9月起限散户加密交易
Last night’s CPI came out and briefly pushed to 64,500, only to be pushed back. Today is even less interesting—it's just churning between 63,200 and 64,000, and trading volume is also low.
I think the bias is bearish, but I don’t believe this area will produce a smooth, uninterrupted crash.
Because 64,500 has been capping price for the second consecutive time, and it also happens to line up with the 50 EMA—so the resistance is extremely firm.
On the other hand, 63,200—63,400 has support, and the bears’ own momentum/volume is also not strong.
My plan:
Short 63,600—63,800; first look for 63,200, then 62,650. If you want to be safer, wait for the PPI release.
If it rallies into the 64,500 area and stalls, keep shorting; if it directly breaks below 63,200, wait for confirmation before following.
At the moment, my most favored target is still 62,650, because by the time price reaches there, the bears still haven’t expanded their volume—so the risk-reward for further deep downside won’t be as attractive.
#美国7月CPI与PPI数据本周出炉 #俄罗斯央行9月起限散户加密交易