Interpretation of cryptocurrency market on January 11, 2023
Most of the tokens were shocked and adjusted yesterday. The BTC is a small supplement. The funds have been rotated to some extent. The CPI data will be more critical tomorrow, in full agreement with the previous analysis. The market is determined by whether or not inflation continues to accelerate down as expected to determine whether or not the Fed can end the rate hike in March this year. Data out of the long, the market is likely to rise. There needs to be more than short-term incremental funds. It is challenging to have sustainability. Naturally, it is an excellent opportunity for short-term single-take-profit.
The short-term take-profit does not mean there will be an opportunity to pick up at a lower price. Not to mention the intention of shorting the opposite hand. Just take it down again. There is a certain risk of retraction. Or in a long period of sideways trading because the funds have been occupied to pay the opportunity cost. But this is still a relatively low or even bottom range in the long run, so the long-term low-leverage position is completely ignored.
If the decline is lower than expected or even an inflationary rebound, the impact on the market will be very negative. Although the probability is not high, it is necessary to take appropriate precautions. In short, as long as there is no 'Black Swan' today, that is not critical. What matters is tomorrow night.
The short-term take-profit does not mean there will be an opportunity to pick up at a lower price. Not to mention the intention of shorting the opposite hand. Just take it down again. There is a certain risk of retraction. Or in a long period of sideways trading because the funds have been occupied to pay the opportunity cost. But this is still a relatively low or even bottom range in the long run, so the long-term low-leverage position is completely ignored.
If the decline is lower than expected or even an inflationary rebound, the impact on the market will be very negative. Although the probability is not high, it is necessary to take appropriate precautions. In short, as long as there is no 'Black Swan' today, that is not critical. What matters is tomorrow night.