Today's market has once again completed its cycle. Recently, the market has been stagnant during the day and began to gain momentum in the early morning. Our bullish outlook remained unchanged throughout yesterday, and we repeatedly emphasized the trading strategy of buying on dips, which the market trend accurately validated. During the day, Bitcoin and Ethereum prices showed a stepped downward fluctuation, gradually testing the key support levels below. With the release of the U.S. CPI data in the evening, the market welcomed a significant favorable catalyst. After the data was announced, Bitcoin took the lead, surging strongly and reaching the 110,300 mark. Affected by profit taking, the price briefly corrected below 110,000. Ethereum and Bitcoin exhibited a strong correlation effect, with prices rising sharply in synchrony, reaching a peak of 2,880.

From a technical analysis perspective, Bitcoin maintains a high-level consolidation pattern on the daily chart, with prices consistently close to the short-term moving average, showing a steady upward trend; the 4-hour K-line oscillates upward along the short-term moving average, demonstrating a clear bullish dominance. Although the current price is close to the previous resistance range, the adjustment is limited, and the probability of maintaining a rebound in the short term is relatively high. Considering the current market performance, this round of upward trends shows a strong one-sided characteristic, with weak pullback strength, and prices are expected to challenge historical highs. Given the current market situation, we continue to maintain a bullish outlook and buy on dips.

In terms of specific operations, Bitcoin can be positioned for long orders around 108,000, targeting a price of 111,000; Ethereum can enter long positions around 2,800, targeting a price of 2,950.$BTC $ETH