Yesterday, I mentioned that if Bitcoin wants to break through its previous high, it should absorb Ethereum.

I suggest everyone not to chase Ethereum. Indeed, after the favorable CPI news came out last night, Ethereum surged briefly but was then hammered down by Bitcoin. It's hard to hold.

After today's Bitcoin closing, the daily chart objectively shows a 55-45 split between bulls and bears. It's not good or bad to look at.

However, the closing prices are still above support levels.

Bitcoin is above the support at 108,500.

Ethereum is above the support at 2,730.

The 2-day and 3-day lines for Bitcoin still look good in terms of formation. It belongs to an upward phase of adjusting candlesticks.

The Ethereum to Bitcoin exchange rate is currently still strong, having temporarily broken through the weekly moving average MA20 resistance. It's currently facing resistance around 0.026. However, the formation looks good. It should be able to break through this exchange rate.

U.S. stocks also had a high and then retreated yesterday. Currently, the index is above 19,500 points, also supported by the 2-day moving average. The daily chart formation looks somewhat poor.

In summary.

Objectively speaking, both bulls and bears are possible at this moment, as both the U.S. stock market and Bitcoin's daily chart formations are somewhat poor.

Subjectively, my personal view is still bullish. Because everything is still above support.