On December 19, BTC and ETH are in a reverse celestial cycle.
Yesterday, the CPI data was released, which was lower than market expectations. The impact of high inflation has slowed down, insufficient to boost expectations for interest rate cuts, and has effectively suppressed the overall market. This coincides with the previous resistance at the top, forming a significant decline that resonates with a double top. After a rapid decline, prices fluctuated greatly but have continually failed to surpass previous highs. The public short position discussed yesterday was validated by the market, with a low target seen around 84600.
Currently, BTC is in a range-bound phase, and both technical indicators and external environments have not provided clear directional guidance. From a technical perspective, although a bullish engulfing pattern has appeared in the short term and resonates with the short-term moving averages, indicating that prices may have some upward potential, the significant reduction in trading volume and the bearish arrangement of long-term moving averages suggest that the sustainability of the upward trend is highly uncertain.
BTC operation suggestion: Buy between 86200-86500, target 88300 breakthrough to look at 89200-89800-90700 $BTC
