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At 8:30 PM tonight and 8:30 PM tomorrow, the US August PPI and CPI will be released in succession, along with the European Central Bank interest rate decision announcement tomorrow at 8:15 PM. The market may be at a point of direction selection.
At that time, the oscillation range of $110,000 - $113,500 may be broken; in the past two weeks, Bitcoin has continuously hovered around $113,500, forming three daily upper shadows, indicating strong selling pressure in this area, which is an important resistance zone.
If tomorrow night's CPI data is higher than expected or remains stable, the market may interpret it as bearish, and prices may break below the daily Bollinger middle band (around $111,000), testing the $108,500 - $107,500 (previous lows and psychological support levels) area downward.
The overall market is still bearish, and the decline may not be over yet.