CPI will be announced next week, and a BTC crash is about to begin! Prepare in advance!
Short at 84188, take profit at 79888. The core idea here is to enter at the high resistance zone and exit after the pullback releases. Let me break down the logic. First, the entry logic: why is 84188 worth shorting? 84188 is right at the upper edge of the key resistance zone from 83500 to 84500. BTC has repeatedly tested the 84500 to 87000 range over the past two weeks but failed to hold above it. Every time it rebounds to this level, sellers step in to defend. Analysts clearly say that as long as BTC stays below 84500, the rebound is a shorting opportunity. Placing a short at 84188 means entering at the very top of the resistance zone, with a good stop loss and a favorable risk-reward ratio. Now, looking at the news, why is the short-term outlook bearish? The Fed's September minutes were hawkish; all 19 officials unanimously supported a rate hike in September, and most believe another hike may be needed this year, with inflation risks skewed upward. The market pricing for an October hike has dropped from 70% to 18%, favoring a move in December instead. This expectation itself is weighing on risk assets. The capital flow is also weakening. From October 7 to 8, the US Bitcoin spot ETF saw a cumulative net outflow of $731 million, and on the 9th, only $21.13 million returned, which is just 3% of the previous outflow. The buying side did not catch up; institutional ETF funds are retreating in the short term. Long-term interest rates are even more troublesome. The 10-year US Treasury yield is at 5.36%, the 30-year at 5.73%, and PIMCO even warned that the 10-year could rise to 6%. In a high-interest-rate environment, the opportunity cost of non-yielding assets is too high, so funds prefer to earn bond yields. Hormuz Strait crude oil
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