Daxian's Coin Talk: U.S. CPI Up 3.4% YoY, Bitcoin Surges Nearly 7%, Analysis of Subsequent Market Trends

(Wednesday) The latest Consumer Price Index (CPI) data released at 20:30 showed a 3.4% year-on-year increase in the U.S. CPI for April. This data has cooled inflation and boosted confidence in the rate cut market, leading to increases in the U.S. stock market and the cryptocurrency market. At the same time as the data was released, the price of Bitcoin surged to around 64200, followed by a slight pullback and then continued to fluctuate upwards. By 8 a.m. today, it reached a high of 66666, and at the time of writing, the Bitcoin price was 66170, with a 24-hour increase of nearly 7%.

Bitcoin 4-Hour Chart

4H Bollinger Bands: The Bitcoin price is currently near the upper band of the Bollinger Bands, indicating a strong upward trend in the market.

4H MACD: The MACD is positive and the red bar is increasing, indicating a strong bullish trend in the current market.

4H KDJ: The current KDJ indicator shows an oversold condition, possibly indicating a rebound or short-term rise in price.

4H MA: Short-term Moving Average (9MA, 63123) supports the current upward trend, and the medium-term Moving Average (30MA, 63123) is also upward, further confirming the bullish market.

Comprehensive Analysis: The current 4-hour chart of Bitcoin shows that the price is near the upper band of the Bollinger Bands and above all moving averages, indicating a strong bullish trend in the market. The KDJ indicator at a low level indicates oversold conditions, suggesting a possible rebound, while the strong upward movement of the MACD confirms this trend.

Bitcoin 1-Hour Chart

1H Bollinger Bands: The Bitcoin price is near the upper band of the Bollinger Bands, showing signs of a slight pullback.

1H MACD: The MACD histogram is starting to weaken, indicating some signs of a pullback.

1H KDJ: The KDJ indicator shows that the market may have some upward potential, but there is also a risk of a pullback.

1H MA: Short-term (9MA, 66000) and medium-term (30MA, 64700) moving averages are both upward, with the price above these moving averages, indicating a clear bullish market.

Comprehensive Analysis: The current 1-hour chart of Bitcoin shows that the price is near the upper band of the Bollinger Bands and above all moving averages, indicating a bullish trend in the market. The KDJ indicator shows that the market is in a neutral to slightly high position, and the MACD shows a weakening momentum, which may indicate a risk of a short-term pullback.

If the price pulls back to near the middle band of the Bollinger Bands at 65300 and finds support, consider entering a long position, with a stop loss set near the lower band of the Bollinger Bands at 64700, and a target set near the upper band at 67300.

If the price is resisted near 67000 and shows a clear signal of a pullback, consider entering a short-term short position, with a stop loss set near 67300 and a target set near the middle band at 65300.

Instead of giving you a 100% accurate recommendation, it's better to give you the correct mindset and trend, after all, teaching someone to fish is better than giving them a fish. The suggestion is to earn for a lifetime, focusing on mindset, grasping the trend, and planning positions in the market. What I can do is to provide help based on my practical experience, guiding your investment decisions and management in the right direction.

Special Note: Online publications have a delay, and the above suggestions are for reference only. The author is dedicated to research and analysis in the investment fields of Bitcoin, Ethereum, altcoins, forex, stocks, and has been involved in the financial markets for many years, with rich experience in actual trading operations. Investment involves risks, so entry into the market should be cautious. For more real-time market analysis, please follow the public account above for discussion and exchange.

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