Bitcoin chart is very clear; from 79,800 to 81,268 in this rebound, it has now entered a high-level pullback phase. Technically, the upper band of the Bollinger Bands has already turned downward, indicating that the short-term upward momentum has been completely exhausted. The midline at 80,500 is the first support, and if broken, it will head straight for the strong support level at 79,700. The high-level death cross on the KDJ has already lasted for three candlesticks, and the MACD red bars continue to shrink, showing that bullish funds are quietly exiting. The next likely move is a consolidation and correction.

The news side also doesn't give the bulls much confidence. Several Federal Reserve officials have continued to sound hawkish, clearly stating that rate cuts may be delayed until the end of the year, and an additional rate hike is not ruled out. The strengthening of the US dollar index directly suppresses the crypto market. Plus, Grayscale GBTC is still continuously selling, with daily outflows of hundreds of millions, which is a sword hanging over the market. Fortunately, spot ETFs are still experiencing net inflows, and institutional long-term funds haven't fled, so a crash is unlikely.

In terms of trading, don’t blindly chase longs. Short near 81,300 after a rebound, and go short. After a pullback and stabilization at 80,500, add to positions gradually. Don’t be greedy in a volatile market; set proper stop-losses on each trade. Take profits when you can, and walk away. Small gains add up to stability. #美国4月CPI上涨3.8% $BTC