$btc is it not going to drop anymore, is it going to surge? If it can rise, where can we see it go? Can we still go long? Is there a possibility that this is still a false rally?

Yesterday afternoon, a small warning was issued to shorts in all groups, with the key phrase being a shift from decline to consolidation. Even if there is an adjustment, it could just be a slight one, followed by a potential upward move. However, it appears that $btc is underperforming, while $eth has skyrocketed. It can be said that in this upward consolidation rhythm, $btc is lagging behind $eth by at least two segments. If we exclude favorable conditions for $eth, then $btc has the potential for a catch-up rally. Of course, there is a premise here.

As long as $btc does not effectively drop below 108400 today, it will maintain a continuous upward consolidation. A valid breakout above 109100 would look towards 109600, where there will be some pressure. If there is a direct push to breakthrough, we can continue to look towards the 110300 level. Up until this point, we will then assess a potential valid adjustment. So whether this wave is a false rally or if there will be another drop depends on whether it can stabilize around the 108400 level today. Therefore, this can also serve as a defensive position for going long.

At least as of now, this wave of bulls still has potential. Unless something unexpected happens, it might be fully realized before the CPI data is announced on July 15th, followed closely by a potential entry for bears. Why on that day? Because that day directly determines whether there is still a possibility of an interest rate cut in July.