As the Federal Reserve's interest rate meeting approaches, inflation data has become the core variable shaping the short-term market. The previous night, US PPI data was released, and the inflation figures sparked an emotional impact, causing a notable pullback in the crypto market. Looking at the entire week, overall volatility has been limited, and last night's decline was the largest adjustment so far this week. Market sentiment has turned cautious, with everyone awaiting the CPI data for new directional guidance.
During the market pressure phase on Wednesday, I shared the idea of taking short positions at high levels; instead of passively waiting for lower long entry points, it was better to take advantage of short-term shorting opportunities. On Thursday, the market pulled back as expected, providing a chance to enter long positions at lower levels. Currently, long BTC positions at 77,000 and ETH at 2,420 are still being held, with current prices close to the cost basis. It's best to patiently wait for further market developments.
Technically, on the daily chart, BTC has posted four consecutive bearish candles, and the price has fallen to the lower Bollinger Band. After the Bollinger Bands contracted downward, all three bands are now flattening out, and the market is at a critical juncture, soon to face a directional choice. Next, either the Bollinger Bands open upward and the market resumes its rebound, or they open downward for another deep adjustment.
Recent market performance shows strong support below, with the price repeatedly rebounding quickly after testing the 76,000 area, and the key 75,000 support has not been effectively broken so far. The larger bullish structure remains intact; as long as 75,000 is not broken, there is no need to be overly bearish about the future market.
For intraday trading, the approach still focuses on buying on dips. For BTC, entries can be made in batches within the 77,000–75,500 support area; on the rebound, watch for resistance at 78,000, 79,000, and 80,000 in turn. ETH's main support is at 2,420 and 2,350; consider layering long positions if it pulls back into the support range, and look for resistance at 2,470, 2,520, and 2,600 on the rebound.
Every market correction is a test of mindset. In a consolidating market, the biggest mistake is chasing gains or panicking on sharp drops—blindly buying after strong rallies or getting bearish after sudden dips often results in mistimed trades. Trading is not just about pinpointing entry levels; it's even more about attitude and patience. Stay calm, wait for support opportunities, gradually build positions according to your plan, and don't let short-term bearish candles disrupt your trading system. Over time, those who stick to the trend will be rewarded.
