Don't be afraid of making the wrong choice, don't be afraid of change, because true confusion comes from never starting. The market for Bitcoin has been relatively slow today. After rebounding to the 103000 level in the morning, it fell again, touching a low of around 101400, stabilizing before showing a slow upward oscillation. Until the evening CPI news was released, the market gave a slight rebound before another pullback. However, the market did not provide continuation momentum, and it formed another rebound around the 104000 level. In contrast, Ethereum took a different path in the evening, slowly oscillating upward until it faced resistance near the 2600 level. Currently, Ethereum still has room for adjustment, which is in stark contrast to Bitcoin. Throughout the day, both long and short positions were successfully established, and the market has maintained a box structure of oscillation. Whether it’s short-term or swing trading, as long as you find the right entry point, making profits is easy.
On the daily chart, Bitcoin’s price has again risen to the upper track, forming a long lower shadow with a solid bullish candle. The daily chart is trapped in a high-level oscillation and contraction. It surged in the morning but lacked the strength to break higher, indicating a significant demand for short-term adjustments. The 4-hour chart shows three consecutive bullish candles in a stair-step pattern. The market is moving slowly, but under the influence of favorable news in the evening, the price began to slowly release bullish energy. This rebound still pulls the market to a horizontal consolidation around the middle track, currently facing pressure at high points. In the evening, maintain a bearish view around 104500, placing the stop loss at 103500. If it breaks upwards, watch for pressure around the 105000 level. Based on the structural patterns, operations still need to be flexible.
In the evening, Bitcoin can be shorted in the range of 104500-105000, targeting around 102500. Ethereum can be bought in the range of 2550-2570, targeting around 2700.
