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Where is the downside space for BTC and ETH on December 18th?
CPI data will be released tonight. Can BTC stay above the 85,000 level?
Evening data is as important as non-farm payrolls—if non-farm payrolls reflect "people's unemployment," CPI reflects "money's unemployment," directly measuring the currency's purchasing power. It will directly influence market expectations of the Federal Reserve's rate cuts/hikes and determine BTC's medium-term trend.
Currently, the BTC market is in a typical bottoming phase, with prices approaching strong support levels, accompanied by the appearance of bullish reversal engulfing patterns. This provides technical basis for a short-term rebound. Trading volume is extremely thin, indicating insufficient rebound momentum, and trend indicators show a bearish alignment, with prices still below moving averages.
BTC trading: short at 87,600-88,000, target 86,100, if broken, look at 85,200-84,500
ETH trading: short at 2,880-2,905, target 2,807, if broken, look at 2,770-2,745