Midday Express: BTC Plummets, Long and Short Positions Stalemate Ahead of CPI, Cautious Positioning. Yesterday, the market warned of potential risks driven by short-term news before the market shift. After reaching a historical high of $105,800, a short attack triggered a deep pullback, hitting a low of $100,680, resulting in a dual kill of long and short positions. Despite the significant pullback, the expectation of interest rate cuts still provides support to the market, increasing the risks of blindly chasing highs and cutting losses.
Given that the U.S. CPI data will be released at 20:30 tonight, investors are advised to avoid operations during the data window period.
During the day, BTC should focus on the key level of $103,050 — this is the upper level of the four-hour rebound center. If the hourly chart cannot stabilize at this price, the bullish momentum is likely to struggle to continue. Considering the technical patterns, the current trend leans towards bearish dominance, operation suggestions:
BTC: Short at the $102,800-$103,300 range, stop loss at 800 points, target at $101,700-$98,000; ETH: Layout short positions in the $2,460-$2,470 range, stop loss at 30 points, target looking towards $2,420-$2,360.
