The CPI of November was 7.1%, and the core CPI was 6%. Both of them are not only smaller than the previous value but also smaller than the predicted value. Price rose for two days before being interrupted by hawkish comments from Powell. Powell said that there is no guarantee that the final interest rate of this round will not rise again, and the strong employment situation is the biggest obstacle. At the same time, FOMC also announced a new Midpoint of target range or target level. Members believe that it is appropriate for the final interest rate to stand at 5.1%, which is an increase of 0.5% from September's Midpoint. This caused asset to fall sharply in the second half of the week, erasing the gains brought about by the CPI. Other officials of the Federal Reserve continued to express hawkish views on Friday to suppress the market, and price continued to fall.
Like BTC, the price fell back after reaching the given resistance level, with high trading volume. The rate of decline slowed down over the weekend, and then fell to the start point of Nov.29 yesterday. The performance of bears was stronger than that of BTC. But after approaching the given support level, the bulls strengthened rapidly, and the price is already standing above the weekend high. Both bulls and bears are showing strength, and volatility has increased significantly.
Conclusion: Mostly fluctuation. If the green candle can maintain the current length today, then the gap between bulls and bears is not obvious, and the price will still fluctuate. If the upward needle replaces the candle, the bears will take the control. We maintain last week's resistance at 1330 and support at 1160. Volatility this week will be significantly greater than it in early December.
If you have any ideas, welcome to communicate with us:)
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.
Like BTC, the price fell back after reaching the given resistance level, with high trading volume. The rate of decline slowed down over the weekend, and then fell to the start point of Nov.29 yesterday. The performance of bears was stronger than that of BTC. But after approaching the given support level, the bulls strengthened rapidly, and the price is already standing above the weekend high. Both bulls and bears are showing strength, and volatility has increased significantly.
Conclusion: Mostly fluctuation. If the green candle can maintain the current length today, then the gap between bulls and bears is not obvious, and the price will still fluctuate. If the upward needle replaces the candle, the bears will take the control. We maintain last week's resistance at 1330 and support at 1160. Volatility this week will be significantly greater than it in early December.
If you have any ideas, welcome to communicate with us:)
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.
