Can Tonight’s CPI Break the Sideways Trend? BTC Faces the Risk of Falling Below the $80,000 Mark Again!
The broader market has remained range-bound for several days, with limited price movement. So far, there has been no clear signal of a trend reversal on the daily chart. The market is generally in wait-and-see mode, with attention focused on the U.S. CPI data due out at 20:30 tonight. This could be a key factor in breaking the current range-bound trend.
My view on today’s market: sideways trading is the most likely scenario, with direction to be confirmed after tonight’s CPI release. Prices are expected to continue fluctuating within a narrow range during the day, so short-term trading will likely remain focused on buying and selling within the range.
Key levels to watch today:
BTC: 84,500–85,000 above; 82,000–82,500 below
ETH: 2,550 above; 2,460 below
SOL: 109 above; 105 below
It’s worth noting that although BTC has recently held above the $80,000 mark, that doesn’t mean it has resumed a short-term uptrend. The rebound has been limited, and overall, BTC remains range-bound within a daily-chart box without having established a clear direction.
Tonight’s CPI data is also an important factor in the Federal Reserve’s upcoming interest rate decisions. If the data is bearish, the broader market could move toward the $80,000 mark again, with a risk of breaking below it. Conversely, if the data is bullish, prices may break through overhead resistance and start a new move.
As for trading, short-term and swing traders can continue to trade within the range during the day. However, as the CPI release approaches, it’s advisable to avoid opening new positions to reduce the risk of sudden, sharp market moves around the announcement.
Overall, we’ll wait to see whether tonight’s data can truly break the sideways trend. Until the direction becomes clear, remain cautious and level-headed, and manage your trading risk carefully.
$BTC $ETH $SOL
#BTC #ETH #solana
The broader market has remained range-bound for several days, with limited price movement. So far, there has been no clear signal of a trend reversal on the daily chart. The market is generally in wait-and-see mode, with attention focused on the U.S. CPI data due out at 20:30 tonight. This could be a key factor in breaking the current range-bound trend.
My view on today’s market: sideways trading is the most likely scenario, with direction to be confirmed after tonight’s CPI release. Prices are expected to continue fluctuating within a narrow range during the day, so short-term trading will likely remain focused on buying and selling within the range.
Key levels to watch today:
BTC: 84,500–85,000 above; 82,000–82,500 below
ETH: 2,550 above; 2,460 below
SOL: 109 above; 105 below
It’s worth noting that although BTC has recently held above the $80,000 mark, that doesn’t mean it has resumed a short-term uptrend. The rebound has been limited, and overall, BTC remains range-bound within a daily-chart box without having established a clear direction.
Tonight’s CPI data is also an important factor in the Federal Reserve’s upcoming interest rate decisions. If the data is bearish, the broader market could move toward the $80,000 mark again, with a risk of breaking below it. Conversely, if the data is bullish, prices may break through overhead resistance and start a new move.
As for trading, short-term and swing traders can continue to trade within the range during the day. However, as the CPI release approaches, it’s advisable to avoid opening new positions to reduce the risk of sudden, sharp market moves around the announcement.
Overall, we’ll wait to see whether tonight’s data can truly break the sideways trend. Until the direction becomes clear, remain cautious and level-headed, and manage your trading risk carefully.
$BTC $ETH $SOL
#BTC #ETH #solana