Good evening, brothers!
Buddha said—
Life is like a game,
When trapped within it,
One feels lost,
Once outside of the world,
It is the moment of enlightenment.
Only through enlightenment,
In fact, market trading follows the same principle,
Only by understanding the true essence of market trading,
Can one navigate the market's ups and downs with ease,
With strategies for both rises and falls,
Occasionally sipping tea,
Can also provide a home for those aimless days.
Acting without action, finding tranquility in self-reflection…
……
Before the non-farm payroll data was released last week, no one would have anticipated how important tonight's inflation data would be. Because it will provide clues for the Federal Reserve's last two interest rate decisions this year and verify whether last month's aggressive rate cuts were a major mistake.
Originally, the market optimistically believed that when the Federal Reserve initiated the easing cycle last month, inflation had already been defeated, and expected at least two rate cuts by the end of the year. Therefore, people were generally tolerant of slightly higher CPI data and excited about lower-than-expected CPI.
However, last Friday's U.S. non-farm payroll report shattered this optimistic expectation. The number of new jobs far exceeded expectations, the unemployment rate unexpectedly dropped to 4.1%, and wage growth year-on-year increased. Concerns about an overheating economy began to arise, with former U.S. Treasury Secretary Summers even stating that "a 50 basis point rate cut in September would be a mistake."
BTC: On the 4-hour level, the price is retracing near the lower Bollinger Band, showing a weak trend.
On the daily level, the price has broken below the moving average support, showing a weak trend.
In summary, support level at 61000, resistance level at 61400.
ETH: On the 4-hour level, the price continues to stay near the lower Bollinger Band, showing a weak trend, support level at 2390, resistance level at 2420.
LTC: The price continues to stay below the middle Bollinger Band, showing a weak trend, support level at 63, resistance level at 66.
BCH: The price continues to stay near the lower Bollinger Band, showing a weak trend, support level at 310, resistance level at 340.
That's all for now, good night!
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