6 / 10 Major Trend Analysis

Today's market greed and fear index is 64, with the greed index rising 9 points from yesterday. Market sentiment has shifted from bullish to neutral and then to greedy, with most people in the market being bullish. The total liquidation amount in the market over the past 24 hours is 446 million dollars.

Bitcoin has dropped 10,000 dollars over half a month, and has directly risen 10,000 dollars in just four days since Friday. The recent large fluctuations and one-sided market have left the market in a daze. As of now, this is all preparing for the CPI release tomorrow night.

On Wednesday, there will be news regarding the CPI data, which will affect whether there will be an interest rate cut in June. Currently, over 90% suggests that the interest rate cut will not go through, which is relatively bearish news. If it's bearish, it may cause a sharp drop; based on past patterns, there won't be any immediate reaction, but a sudden drop will follow. Therefore, I feel we need to rely on the data at 8:30 PM on Wednesday, at least until Thursday afternoon for a sudden drop. Until the release, the market will likely experience small fluctuations upwards with low volume, attracting more bulls to enter, and then a large sell-off will occur.

Price Analysis

Today, focus on BTC Bitcoin:

Upper resistance at 110600 to around 111500 as the first and second resistance

Lower support at 108500 to around 107750 as the first and second support

(For the next two days until the CPI data release, it is recommended to observe mainly. The view of the old expert is that the market will continue to break new highs back and forth, attracting retail investors until the news is released, then burying most of the users.)

Today, focus on ETH Ethereum:

2725 and 2790 as the first and second resistance

Lower support at 2614 to around 565 as the first and second support

(Same as BTC Bitcoin, mainly wait and see, do not blindly enter the market, wait for the news to be released before making a decision.)

Summary: The old expert's personal view is that brothers holding short positions should not act for now. We are currently in a large cycle of volatility. Clear news will come tomorrow night, whether there will be an interest rate cut will determine the rise or fall. If the interest rate cut is successful in June, we will see 140,000; if it is delayed, we will see 100,000. Therefore, it is important to remain calm and avoid frequent operations, waiting for the news to land.