Bitcoin ($BTC) has recently experienced a minor pullback within its current small cycle, yet it remains above the critical 100,000 mark. In the short term, the key levels to monitor are 101,800 to 108,000, with resistance expected around 104,800$ETH
#to 105,300. A breakout above this range could propel the price towards the 108,000$BTC to 110,000$BTC
zone.
Following the release of the latest CPI data, the market response has been relatively muted. Investors are advised to keep an eye on the broader movements in the US stock market, including the Dow Jones, as well as the ongoing adjustments in gold prices.
For those considering medium to long-term positions, patience is essential. Despite recent capital inflows into the cryptocurrency space and a sharp 40% rebound in Ethereum that has drawn significant retail interest, the market remains in a consolidation phase. Short-term strategies may be more favorable for now, as substantial market corrections might still be on the horizon before a sustained long-term uptrend.
As always, stay mindful of market risks and ensure you're mentally and physically prepared for the challenges of trading.
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