The Bitcoin market presents a complex situation today, which investors should handle with caution.

Market Trend Analysis

The daytime market shows a downward trend, and although there was a brief surge after the CPI data was released, the market fell back as U.S. stocks opened, re-entering a volatile downward trend. This indicates that the current market foundation is relatively weak, with insufficient upward momentum, making it susceptible to changes in direction due to external factors.

Technical observation

Looking at the four-hour chart, the Bollinger Bands are gradually narrowing, indicating that market volatility is decreasing. Combining this with the support range of 106500-105600 below, it is highly likely that the market will enter a consolidation phase in the short term. In this market situation, the continuity of the trend is relatively poor, and blindly chasing highs and cutting losses may lead to being trapped. It is recommended to wait for a clear directional breakout before taking action.

Trading advice

In terms of Bitcoin, consider establishing a long position near 107,000, with a stop-loss set at 106,500 and a target price of around 109,000.

On Ethereum operations, a long position can be set around 2740, with a stop loss set at 2700, aiming for the 2800 area.

The market is overall in a sensitive period, and it is recommended that investors maintain a high level of attention, adjust strategies in a timely manner according to market changes, and control risks.