Jiangfeng Capital: Focus on the upcoming CPI data, which will affect the subsequent price trends. Pay attention to several high short positions.

CN
2 hours ago

The overall fluctuations in the weekend market are not significant, possibly because the market is also waiting for the release of the CPI data next Tuesday. This data is quite important, as it will determine the direction of the Federal Reserve's interest rate decision and will greatly affect the subsequent price trend. Recently, it has been suggested that everyone participate with light positions, and it is more prudent to wait for the news to settle before making normal operations!

Yesterday's article mentioned a resistance near ETH 1830. However, abandoning this position to go short, looking back, the price quickly fell to 1778 after just hitting 1830. Since this is a conservative strategy, the entry price for short positions is definitely on the higher side. I still recommend continuing to wait; everything should be conservative before the CPI data release! Tonight's strategy remains focused on short positions!

The daily Bollinger Bands for Bitcoin are flattening, with the upper band around 65400 and the middle band around 61800, which may have certain support. The upper EMA 55-day moving average is around 65700, providing resistance. The KDJ indicator in the auxiliary chart has all three lines approaching 78, indicating an overbought area, so be cautious about chasing long positions. The MACD on the four-hour chart is showing an increasing trend below the zero line, with the fast and slow lines forming a death cross extending downward. The previous high around 64600 has been tested several times, so it is not recommended to reference it again. A stable strategy requires good control, avoiding random chasing of highs and lows!

BTC: Stable high short strategy

Referencing the resistance around the upper range (65300~65800) to (67000~68000), if it breaks above 68000 and holds, exit the position. Targets to watch are around 63300~62000~60800~60000.

ETH:

Referencing the resistance around the upper range 1850~1880~1910, targets to watch are around 1750~1720~1680~1600~1520.

Note that next Tuesday's CPI data is approaching; participate with light positions, and if no entry opportunity arises, focus on observing!

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