As the Federal Reserve's interest rate meeting approaches, inflation data has become a core variable affecting the short-term market. The previous night, U.S. PPI data was released, and the inflation data caused an emotional impact, leading to a noticeable correction in the cryptocurrency market. Looking at the week’s performance as a whole, the overall fluctuation was limited, and last night's drop can be considered the strongest adjustment of the week, causing market sentiment to become cautious, as everyone waits for the CPI data to provide new directional guidance.
During the pressured phase on Wednesday, I shared the idea of shorting at high positions; instead of waiting for low buy order points, it is better to short for quick profits in line with the trend. Thursday's market retraced appropriately, providing opportunities to enter long positions at low levels as expected. Currently, BTC at 77000 and ETH at 2420 long positions continue to hold, with the current price close to the cost, patiently waiting for changes in the market.
From a technical perspective, BTC has recorded four consecutive bearish daily candles, with the price retreating to the lower band of the Bollinger Bands. After the bands have contracted downwards, the three bands are currently tending to flatten, and the market has entered a critical point, soon to face a directional choice: either the Bollinger Bands will widen upward, restarting a rebound; or they will open downward, initiating another deep adjustment.
From the recent market performance, the support at the lower end is relatively strong, with the price repeatedly retracting swiftly around 76000 and the crucial support at 75000 not being effectively broken so far. The large-scale bullish structure has not been damaged, and until 75000 is effectively broken below, there is no need to excessively bearish about the market outlook.
The intraday trading strategy remains focused on accumulating long positions at low prices, with BTC being accumulated in batches in the support range of 77000-75500, and the upward resistance levels to watch are 78000, 79000, and 80000. For ETH, the key support is at 2420 and 2350, and accumulations can be layered in the support zones, with resistance to reference during a rebound at 2470-2520-2600.
Every correction in the market is a test of mindset. In a volatile market, it is most crucial to avoid chasing highs and panic selling; blindly chasing after a big rise or fearing a downturn after a sharp drop often leads to missteps in market rhythm. Trading is not just about point judgment, but more about mindset and patience. Stay focused and wait for support opportunities, plan for accumulation in batches, and do not let short-term bearish candles disrupt your trading system; over time, rewards will come to traders who stick to the trend.
Risk warning: The above is just personal analysis of market trends and does not constitute any investment advice. The cryptocurrency market is highly volatile, and the uncertainty of data and trends is high, so please control your positions reasonably and participate in trading rationally. For more real-time market analysis and guidance, follow the public account: Zhongliang BN
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