After the release of the CPI, the short-term market surged and then quickly fell back, still unable to break the form. This is a phenomenon that everyone can see. Looking at the four-hour chart, the current market's bottom rebound pattern has not changed, and the main force is creating the illusion of a weak rise. From the perspective of the four-hour chart, the entire market cycle, aided by the fall after the impact of the CPI, has created a phenomenon of luring in long positions. In reality, at this moment, the trend of the long position has not changed. The current long position continues to remain unchanged, and the entry point remains the same as yesterday!
Why is the market trend definitely unchanged today, even though it has fallen back into the box? In fact, it is a top-to-bottom conversion, a right-hand trading mechanism. After breaking through the downward channel, there will be a later retest. In the early morning, BTC and ETH once again tested the support level given yesterday and did not break it. Therefore, the overall trend is bullish, and the entry timing is the same as yesterday!
In the short term, the pressure level for Bitcoin is 30,000-30,300, and the medium-term pressure is 32,000.
On the daily chart, there are no signs of a bearish trend in the market. It is recommended to focus on long positions for the day, with the support level at 29,500-29,200 and defense at 28,800, targeting 30,000-30,300.
Ethereum's pressure level is 1,880-1,890, with medium-term pressure at 1,940.
For intraday operations, the support level is around 1,850-1,840, with defense at 1,808, targeting 1,880-1,890.
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