August 14th Market Analysis: Can CPI Data Break the Deadlock, and Where Will Bitcoin Go in the Future?

BTC/Daily Chart

On the daily chart of Bitcoin, it stabilized above the 10-day moving average with a bullish candlestick yesterday. The price is above the previous low of 57500, indicating a strong correction within the bullish trend in the short term. It is likely to easily break through the resistance at 62000 in the short term. The most significant characteristic of this strong correction pattern is the continuous reliance on the short-term 5-day or 10-day moving averages to push up and oscillate, ultimately leading to an accelerated one-way rally. Currently, the 5-day moving average support is around 60500. Maintaining a bullish view at this level is advisable. The short-term resistance is expected to be difficult to hold at 62000, and the resistance is likely to continue to move up to the range of 63500 to 64000.

BTC/4h Chart

On the 4-hour chart of Bitcoin, in combination with tonight's CPI data, it is likely that the volatility will not sustain. Typically, after such data is released, the volatility may last for about half an hour, and then it will return to the technical aspect. This pattern easily leads to false impressions. Once it enters a strong correction pattern, the typical intraday operation pattern is a continuous rise overnight and in the early morning of the next day. For tonight, it is advisable to wait for stability before taking a bullish view. From the chart, continuing to rely on the 10-day moving average at 58500 provides a certain lower support and is the last line of defense. It is the primary point to consider for a bullish view. The short-term resistance is at 62000, followed by the range of 63500 to 64000. Once it returns above the middle track, it is likely to rally strongly.

Strategy 1: It is recommended to go long in batches at 60000 to 59500, with a defense at 58500, and the target is around 63500 to 64000.

Strategy 2: It is recommended to go short in batches at 63500 to 64000, with a stop loss at 64500, and the target is around 62500 to 62000.

The above are personal suggestions for reference only. Investment involves risks, and trading should be cautious.

There may be delays in publishing, and the market is constantly changing. The levels mentioned in the article do not serve as a basis for following orders. For more information on the market and strategies, please follow the official account below.

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This article is an original creation by "波段空伐", who has over ten years of investment experience, has handled funds at the level of tens of millions, is familiar with the operation of main funds, and is skilled in market manipulation, fund absorption, and price manipulation. They have a good grasp of fund management, position control, investment portfolio, and investment mentality. They are proficient in analyzing and judging the overall market trend, and are well-versed in various candlestick technical strategies, wave theory, pattern theory, and indicator theory. Follow the official account above for technical market learning and communication.

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