CPI data release has intensified volatility in the crypto market. Here's a summary of today's market outlook.

On Bitcoin, the daily MA100 resistance remains quite strong, and the medium-term selling pressure is indeed significant. On the 4-hour chart, double resistance layers are stacking, and the breakout has been repeatedly stalled. The key is whether the price can effectively break below the channel's midline; once broken, it will confirm this is a false breakout, and the subsequent trend will likely shift to a correction phase, making a short position more decisive.

Ethereum's performance is a bit different. The daily chart shows shrinking volume and sideways consolidation, but the hourly chart is already showing increasing bearish signals. The 4-hour Bollinger Bands are tightening, indicating a trend reversal is imminent. If the price at 3300 doesn't see a volume breakout, it’s likely a trap to lure in buyers, and chasing in could lead to losses.

Trading suggestions:

Bitcoin: Enter at 94,000-94,500, targeting around 95,500-96,000. Set stop-loss at 93,300; if it breaks below this level, immediately switch to a short position.

Ethereum: Wait until it stabilizes above 3,250-3,280 before considering entry, with a target range of 3,330-3,350. Stop-loss at 3,210; if broken, exit decisively and switch to a short.

This correction could have a considerable space; manage your risks carefully and exit when necessary.