CPI has been released, $BTC $ETH has taken off! Should we chase more next?
The CPI data brings short-term benefits, but the market reaction has been relatively calm. Moreover, the recent cryptocurrency market is influenced by multiple factors such as the correlation with U.S. stocks, changes in institutional holdings, and uncertainties in regulatory policies, leading to a complex and variable trend.
Both BTC and ETH show an upward trend in the short term. For example, the bullish arrangement of BTC and the golden cross form a bullish signal, while the bullish arrangement of ETH's moving averages and the bullish engulfing pattern also indicate upward potential.
However, the trading volume is shrinking, and the issue of divergence between volume and price is prominent, which means the upward momentum may be insufficient, and market participation is lacking.
The short-term target for BTC is around 121,000 USD,
The short-term target for ETH is above 4,500.
The divine pill will be announced soon, and after the data is released, a new wave of market movement will begin. If anyone is unclear about the path, raise your hand in the comments, and I'll give you a boost!