Market Overview:
US Economic Data Dampens Rate Cut Expectations, US stocks and bonds have been falling for consecutive days, with Nasdaq and S&P falling by over 1% during the day and closing by less than 1%. Dow has fallen for three consecutive days, hitting a four-week low. Real estate sector dropped by nearly 2%. Tesla fell by 2%. Chip stocks underperformed the market, falling by over 2% during the day before narrowing the decline by half at the close, with Intel falling by over 2%, and Nvidia and Microsoft falling from historical highs. Pan-European stock indices fell by over 1%, marking the largest decline in nearly three months.
After the retail data was released, the yield on the 10-year US Treasury continued to hit a one-month high, with the 2-year yield rising by over 10 basis points for consecutive days. The US dollar index hit a one-month high for two consecutive days.
UK CPI accelerated, with the 2-year UK bond yield rising by over 20 basis points, and the pound rose during the day. The yen hit a near seven-week low.
US oil fell by over 2% during the day before rebounding, approaching a one-week high, while Brent oil fell from a one-week high. Gold fell by over 1% for consecutive days, marking the largest decline in two weeks and a five-week low. London zinc fell by over 3%, and London copper hit a two-month low.
Market Review:
As shown in the above 4-hour chart, the price continued to fluctuate within the range of 43500 to 42100 throughout the day, with a narrower daily volatility compared to the previous trading day, with an overall volatility of only 1400 points. In reality, there were not many price ranges available for trading during the day. The price started to decline slowly from 6 am, and in the evening, it continued to fluctuate within a range of 300 points around 42700 to 42400. There were not many trading opportunities during the day.
Continuing from the content of the previous day, reviewing the market, validating the approach, and summarizing the past!
The content and approach in the previous day's articles were consistent, with a bullish view based on the 4-hour trend line in the chart. The bullish strategy on the two trading days did not encounter any surprises. Despite the narrow trading range and limited profit opportunities due to the fluctuating volatility, there were not many trading opportunities.
Market Outlook:
Where will the BTC price go within the day? We will no longer adhere to the approach of buying on dips above the trend line in the previous two trading days. How do we view the intraday situation? Short, short, short.
In the previous two trading days, we made solemn vows to the bull, with unwavering dedication, but it hesitated and vacillated during the trading day. It was given numerous opportunities to rise in the past two trading days, but it was of no use. We devoted our sincere efforts but did not receive a response, and in the end, it was all in vain!
It is expected that the BTC price will once again challenge the faith in the trend line! The plan for the day is to focus on short selling.
For more real-time and accurate price strategies, please pay attention to the real-time prompts from the helmsman during trading!
Trade your plan, plan your trade!
The recent market changes have been rapid, with large fluctuations, so risk management is essential for trading! If there are any price anomalies during trading, or precise real-time price opportunities, the helmsman will provide real-time prompts!
All analysis and judgments are probabilistic predictions. The market carries risks, so speculation should be approached with caution!
2024.1.18
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