The cryptocurrency market experienced a strong upward movement following positive CPI data, but analysts caution against interpreting this as a trend reversal. Despite the rally, there are clear bearish divergence signals on weekly and monthly charts, suggesting the market remains in a corrective phase rather than entering a new bull market.
Current liquidity could push prices into the 9.7-10 range, but resistance is expected, potentially forming a head and shoulders pattern. Analysts maintain that a drop below 8,000 is likely, with a 60% probability of reaching 7,000. The focus remains on monitoring key levels, particularly whether the daily close can hold above 9,000, as market sentiment remains cautiously bearish in the medium term.
Market Reacts to CPI Data with Strong Rally, Analysts Warn of Bearish Divergence
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