$eth and $btc are they taking turns in control? The adjacent US stock market is opening high and rising strongly, and this kind of short-term fierce movement is generally caused by data stimulus;
But I have always believed that data like CPI only affects short-term or instantaneous market conditions, especially in the cryptocurrency world, and I think the recent aggressive surge in Ethereum is also due to this;
After the excitement, there will always be a return to normal emotions, and the emotions in investment and trading are the same, so even if this four-hour divergence leads to a short-term rise, I still think it will return to the range of 4000-4400 for consolidation;
The 4000 level has been tested twice in 2024, and without a doubt, it is a key level, plus Ethereum's rise from 1300 to 4400, over 200% increase, with a large number of buyers at the bottom, there will definitely be some profit-taking, consolidation, and turnover. For such large targets, a considerable period of consolidation is needed: in fact, the deeper the pullback, the shorter this period will be, and the narrower the consolidation, the longer the period will be!
