Bitcoin hedging data expectations: Can tonight's CPI and weekly chart boost bullish sentiment?

The current market shows a dual-driven pattern: ongoing Middle East conflict continues to increase geopolitical risk aversion, providing solid support for gold prices. On the other hand, tonight's US CPI data release has heightened market inflation expectations, further strengthening Bitcoin's short-term volatility. Overall market data so far has not significantly impacted trading activity, and the sideways consolidation zone remains the key area!

Let's review yesterday's scenario: pre-market repeatedly indicated that the 69,500 level on the daily chart was a key support zone for retesting. Smaller timeframes also identified this as a critical entry point for long positions. The market tested the bottom and rebounded beyond expectations, breaking through the key resistance at 71,500 and then pulling back, perfectly aligning with the expected structural market fluctuations.

Ethereum at 1970 formed a short-term buy zone, with the daily chart holding within the retracement volume, showing signs of a rebound and rally. Long positions in the triangle zone around 2000, with a rebound high of 2088 after hours, were realized as intraday profit-taking.

On a larger scale, the recent slight pullback does not indicate a trend reversal; it is merely a pause within the recent rally. Due to medium-term bullish outlooks, some retail traders struggle to adapt to this correction—they keep shorting before the rally and opening longs during the pullback, claiming to trade with the trend but actually going against it.

The price touched the 4-hour MA256 and daily K-line, resulting in a minor pullback. In the short term, resistance at 70,500 remains key. Breaking and stabilizing above this zone would suggest abandoning bearish ideas. The intraday small-scale oscillation and pullback are supported by technicals, and the weekly chart may begin a new upward push.

Bitcoin today is gradually accumulating at 69,000, with a 5% buy zone. Resistance is at 70,500-71,500. A breakout above 71,500 could target 72,600-73,500. If the range holds without breaking, consider retreating promptly!

Ethereum at 2,000 is also accumulating with a 5% buy zone. Above 🔝, watch for 2050-2080. A rebound and stabilization above 2100 could serve as support, with daily resistance at 2150.

Focusing on the 90-transaction system, finally wishing everyone all the best…#微策略再砸12.8亿美元增持BTC $BTC ‌$ETH