The BTC structure has formed. If tonight's CPI is not negative, then the market has not yet reached a reversal.
When trading, the most important factor is the structure, followed by various indicators.
In an upward trend, on the 4-hour or daily chart, if the highs are rising and the lows are falling, this represents an opening reversal trumpet pattern. However, it is only a higher probability and should not be considered absolute.
Currently, after breaking through the top resistance line of 956, Bitcoin has found support after a decline, further confirming that the resistance line has turned into support.
If Bitcoin does not break the previous low during the day, the bullish trend after breaking 100,000 has not been broken temporarily. In other words, if the 4-hour close is below approximately 101,200, those who shorted between 99,000 and 100,000 may have a chance to recover losses.
Because the extreme support for this small segment of the market is 991.
ETH has formed a trumpet pattern that bears particularly like in the short term, with highs rising and lows falling.
As long as the 4-hour ETH does not drop below 2435, it may further test the short-term resistance at 2500.
If Bitcoin creates a lower low without breaking 100,000, Ethereum can be bought in the range of 2375 plus or minus 6 dollars.
Due to the large monthly candle of Bitcoin, this major trend is directly targeting the resistance at 108,200. Therefore, without a significant negative environment, holding short positions is not recommended.
If there is no interest rate cut after the June crisis, it will not be too late to consider mid-term shorts then.
SOL is also in an opening trumpet pattern, but it has been relatively strong recently. Shorting in the short term can only be quick in and out, as transaction fees are eating into profits.
The testing mentioned previously at 169 has occurred, with fluctuations. If it can return and not break the previous low during the day, it may be worth trying a small long position. If it breaks the previous low by 2 dollars, consider stopping losses.