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Good morning, investors. The recent market movements are exciting. The upper wick Candlestick pattern formed by Bitcoin the day before yesterday has now been confirmed as a whipsaw operation. The CPI data released last night brought significant favourable information, further increasing expectations for a possible interest rate cut in September, which has almost become a certainty. The overall macroeconomic situation is very favourable for market development.
From a technical perspective, it also confirms that the upward trend will continue. Observing this morning's daily Candlestick Chart, it can be seen that yesterday did not continue the downward trend but instead filled in the upper wick from the previous day.
Bitcoin is expected to challenge the historical high of $123,200 in the coming days. Once it breaks through, it will aim for the $130,000 mark. Additionally, the previously mentioned Solana has also started to rise, and Dogecoin is showing a profit trend as well. Investors are advised to remain patient, hold on continuously, and avoid frequent trading.
The current market situation is good, with various factors supporting the continued strength of the cryptocurrency market. We look forward to the arrival of the next wave of upward momentum, but at the same time, we must remain rational and closely monitor market changes.