The U.S. May CPI data released tonight generally met expectations, but the transmission effect of tariff policies on inflation has begun to show. Prices of categories heavily affected by tariffs, such as furniture and clothing, rose by 0.4% month-on-month, confirming Goldman Sachs' previous warning about the "amplified impact of pricing power." After the data was released, Bitcoin quickly surged to $109,800. Technically, Bitcoin is consolidating around the $110,000 level, with clear resistance above but still a strong trend. In the short term, attention should be paid to the battle for support at $105,000 and resistance at $112,000. Ethereum slightly retreated at the $2,830 weekly level; if it holds above the $2,700 neckline, it is expected to start a new round of upward momentum. Last night's Bitcoin long strategy missed the target point again, "just missed it," and right after I posted, it jumped to break $110,000 and then fell back. Fortunately, Ethereum didn't falter and made a supplementary rise this morning, securing a solid profit of 130 points. Now, what’s there to fear in a bull market correction? Just go long with your eyes closed; if you don’t take the opportunity during a pullback, you’ll miss the whole market! Let’s continue analyzing today’s market:
Daily Level: Continuous bullish candles indicate a short-term strength, but it has not broken through the resistance level and is consolidating. Key moving averages provide support, MACD momentum is weakening but still bullish, KDJ is tending to recover, and RSI is neutral to strong. If it breaks through the important resistance level, further upward movement is expected.
4-Hour Level: After a pullback to support, it is steadily moving upward, with short-term pressure awaiting a breakthrough and support remaining solid. MACD bearishness is easing, the EMA fast line is about to golden cross, and RSI is rising. Pay attention to the breakthrough of key resistance levels, which may open up a bullish market.
Trading Strategy:
Bitcoin
Focus on low longs, entering long positions in the range of $107,800 - $108,500, with a stop loss at $106,800 and a target of $110,000 - $111,500. If it breaks and holds above $111,500, it may short-term target $116,000.
Ethereum
Focus on low longs, entering long positions in the range of $2,710 - $2,730, with a stop loss at $2,680 and a target of $2,780 - $2,800. If it breaks and holds above $2,800, it may short-term target $2,920.
Key Focus:
Pay attention to the release of the U.S. May CPI data tonight, with market expectations for a year-on-year increase to 2.4% and a core CPI month-on-month growth of 0.3%. The results will affect the Federal Reserve's monetary policy expectations, which in turn will impact the cryptocurrency market. Additionally, keep an eye on recent developments related to cryptocurrencies from Trump, including his personal meme coin issuance and regulatory controversies, as well as South Korea's proposed "Digital Asset Basic Law" draft on June 10, which allows companies to issue stablecoins, potentially boosting local market activity. Furthermore, Hong Kong's "Stablecoin Regulation" will take effect on August 1, with the regulatory framework gradually improving. Investment should be cautious, and strict stop-loss measures are advised. Analysis does not constitute advice.
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