Tonight's CPI data is a bit of a mixed bag. Why? The market is currently pricing in an 84% expectation of a December rate hike, which is pretty much a foregone conclusion. Even if tonight's CPI data is negative again, it will only push the figure from 84% to 100%, which won't have a significant impact. Furthermore, even if the expectation of a rate hike in the next 27 years increases, there won't be a sharp drop in the short term to absorb this expectation. Moreover, the recent drop in oil prices provides conditions for a possible decline in inflation. Therefore, as long as tonight's CPI data is moderate, it will correct the market's overly hawkish expectations, which is conducive to a rebound. From a technical perspective, after yesterday's accelerated decline, the Delta indicator tended to balance, with buying pressure offsetting selling pressure. The price failed to break above 75500 twice, and the price action remains weak according to the candlestick chart. If tonight's CPI data is positive, the price may continue to fall below 73K to extend the decline. However, I expect this decline to be short-term. Even with high-priced interest rate hikes, it won't last long, as oil prices are indeed declining. The main focus should be on core CPI data for housing, services, and goods; as long as these are moderate, the decline won't be too far. The large volume of trading in the 73-74K range over the past two days indicates some absorption of selling pressure. Positive data could trigger a rebound. However, a decline is expected after the rebound, as the daily chart has clearly formed a confirmed trend reversal structure. For bulls, the current price is indeed very low, but from a right-side trend perspective, we are currently in a downtrend. If the rebound breaks through 75500 and reaches 76200, the target is around 77-78K, but the outlook remains bearish after the rebound. As for when the overall trend will shift to bullish, it will only happen when the market begins to reduce its pricing in the tightening of 2027 and the war truly ends. Currently, there are no signs of this. The US-Iran conflict is only temporary, and the crises involving Russia, NATO, and Europe have not yet been resolved. In general, the current rebound is seen as a recovery from oversold conditions to attract liquidity, not a bottom. Rather, it's a confirmation of a trend reversal. After the rebound, investors will seize the opportunity to close some positions, releasing funds to wait for future opportunities. Personal opinion! bitcoin:native