$BTC When will the big pie’s sideways market break out?
In the past few days, the big pie has been moving sideways all the time. Most of the reason is that U.S. stocks have been closed, and funds are causing trouble in ZEC and other altcoins. A lot of people are getting anxious and asking when the mainstream will be able to break out of the market and what to watch next.
First, based on the K-line chart, actually the big pie hasn’t broken below the support level. In theory, there shouldn’t be much pressure in the area above 81,000. So why is it repeatedly churning and ranging in this band?
I think the first reason is that in the U.S., it’s Labor Day—U.S. stocks are off. Without the lead from U.S. stocks, the whole mainstream market has no volume.
Second, expectations of further rate hikes have strengthened again. The market’s suspense is being raised. The big pie is different from altcoins; it relies more on macro conditions. Although big funds haven’t left, without any catalyst from the news, it’s still hard to make a real breakthrough.
I think there may be some volatility when trading resumes tomorrow, but the real setup is likely to be on the 11th, with the CPI data. This data could be the key factor in deciding whether the Fed hikes rates in September. That signal is very important, so a lot of funds are basically waiting on the sidelines.
The best advice is to stay in cash and wait for the data. Because before the data is released, there probably won’t be too much market movement, and once it’s released, you won’t miss the opportunity. There’s no need to be a gambler. Of course, if it’s within your risk tolerance, having a small “ant-sized” position is fine. #美伊互袭油轮冲突升级
In the past few days, the big pie has been moving sideways all the time. Most of the reason is that U.S. stocks have been closed, and funds are causing trouble in ZEC and other altcoins. A lot of people are getting anxious and asking when the mainstream will be able to break out of the market and what to watch next.
First, based on the K-line chart, actually the big pie hasn’t broken below the support level. In theory, there shouldn’t be much pressure in the area above 81,000. So why is it repeatedly churning and ranging in this band?
I think the first reason is that in the U.S., it’s Labor Day—U.S. stocks are off. Without the lead from U.S. stocks, the whole mainstream market has no volume.
Second, expectations of further rate hikes have strengthened again. The market’s suspense is being raised. The big pie is different from altcoins; it relies more on macro conditions. Although big funds haven’t left, without any catalyst from the news, it’s still hard to make a real breakthrough.
I think there may be some volatility when trading resumes tomorrow, but the real setup is likely to be on the 11th, with the CPI data. This data could be the key factor in deciding whether the Fed hikes rates in September. That signal is very important, so a lot of funds are basically waiting on the sidelines.
The best advice is to stay in cash and wait for the data. Because before the data is released, there probably won’t be too much market movement, and once it’s released, you won’t miss the opportunity. There’s no need to be a gambler. Of course, if it’s within your risk tolerance, having a small “ant-sized” position is fine. #美伊互袭油轮冲突升级
