Tariff policy eases, why has Bitcoin seen a cliff-like correction after a strong breakout? CPI data is coming, who will dominate in the tug-of-war between Bitcoin and Ethereum?

On Tuesday, after Bitcoin experienced a cliff-like drop early yesterday morning, the bearish forces were contained after touching the 100,600 line, and the price halted and began to rebound, currently maintaining a fluctuation around 102,500. Although from a short-term perspective, the MA short-term moving average is below the mid to long-term moving average, indicating a short-term downward trend, the long-term trend remains strong, and the bullish structure has not been damaged. Both EMA144 and EMA169 show an upward trend. Last night's drop, along with profit-taking, was also one of the reasons for the price decline. However, the volume during this drop at the daily level is not significant, and it cannot be concluded that the trend has turned bearish. Therefore, in the short-term strategy, it is advisable to maintain a low-buy approach, with attempts to buy in the 101,500-102,000 region, while paying attention to the 103,500-104,000 line above.

As for Ethereum, after the price stopped at the 1,380 line, it reversed the downward trend after a long period of oscillation and slow rise. Recently, there have been three consecutive daily primary increases, and after breaking through, it has risen sharply, with an increase of nearly 40%. Currently, the market is experiencing the first daily stagnation and the first pullback structure in 4 hours, but the momentum is not too strong. Judging from the wide structural volume, the concentrated area of Ethereum's locked selling pressure is between 2,280-2,730, with the concentration of 2,400-2,600 being the most significant! From the perspective of the market structure below 2,000, the main players have done a large-scale isolation, and most of those who bought at the bottom have basically rotated their positions. Currently, it is a position rotation + forced rotation from locked positions! At the same time, Ethereum's breakout has brought about a wave of rising market sentiment, which has been released! The market will undergo a period of consolidation and differentiation after the recent rise, and I personally believe that the strong rotation in the concentrated area indicates that, after a wide-range consolidation, the market still has an expected upward cycle! Therefore, in the short term, attempts can be made to buy in the 2,400-2,450 region, with initial attention to the 2,550 line above, and then to the high point of 2,620!

Also, at 20:30 this evening, the U.S. April non-seasonally adjusted CPI annual rate will be released, with an expected 2.4%. If the data meets or falls below expectations, it may further solidify the narrative of "inflation declining," adding fuel to risk assets!