Aug.8-Aug.14BTC(1d)Weekly market recap
Last Thursday, the US CPI for July was released. The actual value was 3.2%, which was close to the predicted value. Compared with the CPI for June, it has increased, but from the detailed, the core CPI has declined. This is what the Fed is most concerned about. After the release of the CPI , the probability of no interest rate hike for the next FOMC rose to 90%.
Last week, most tokens still maintained low volatility and the prices entered into fluctuation again after a sudden rise and fall.
Last Tuesday, BTC rose, and the price temporarily broke through 30000. But it fell slowly over the next few days, closely covering the gains on last Tuesday. And volatility decreased again. In the process of entering the range, the trading volume is reduced again. BTC remains bullish on a large scale.
Conclusion: Mostly fluctuation. The situation now is the same as last week. Both bulls and bears are weak. Before the price breaks through the range (29000, 30000), there is a high probability that it will remain fluctuating. We maintain the resistance level at 31000 and support level at 28000.
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
Last week, most tokens still maintained low volatility and the prices entered into fluctuation again after a sudden rise and fall.
Last Tuesday, BTC rose, and the price temporarily broke through 30000. But it fell slowly over the next few days, closely covering the gains on last Tuesday. And volatility decreased again. In the process of entering the range, the trading volume is reduced again. BTC remains bullish on a large scale.
Conclusion: Mostly fluctuation. The situation now is the same as last week. Both bulls and bears are weak. Before the price breaks through the range (29000, 30000), there is a high probability that it will remain fluctuating. We maintain the resistance level at 31000 and support level at 28000.
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
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