Last night's market was influenced by the CPI announcement, where the price briefly dipped to around the 94,000 mark, and a relatively long wick was formed on the 4-hour chart. The short positions that were increasing were quickly recovered. The bullish strategy we provided at midnight yesterday is operating as we expected. After hitting the bottom, the market has entered a phase of one-sided upward movement, and it has now reached the 98,000 mark. Ethereum also rebounded after hitting the bottom last night, and the volatility given in the early morning was still relatively small, with a peak reaching 2,794 in the morning.
From the current market structure, the entire rhythm has undergone continuous declines followed by a rapid rebound. Looking at the hourly chart structure, after each pullback, the bulls have entered a period of exertion, which I have always emphasized. The rise after a pullback occurs after confirming the bottom support, so it would be irrational to chase shorts at this moment. The next phase will likely be more of a range-bound oscillation, and I personally believe that the current battle between bulls and bears is laying the groundwork for the upcoming bullish rebound. Therefore, for the follow-up, one can confirm the bottom support and then participate in low longs. Pay attention to the reasonable arrangement of layouts based on the pullback strength.
Operational Suggestions
Buy Bitcoin near 97,300-97,500 Target 99,000
Buy Ethereum near 2,700-2,730 Target 2,820
