This morning, Bitcoin continued its high-level consolidation with a slightly weaker pattern, experiencing a small rally in the early hours before facing resistance and falling back. The rapid decline during the early session absorbed short-term selling pressure. Overall, it remains in a state of profit-taking at high levels, with intensified bullish and bearish battles, without forming a clear trend.

From a technical perspective, the 4-hour Bollinger Bands are gradually flattening, with the price moving near the middle band. The KDJ indicator has dipped into oversold territory, and the RSI has fallen to low levels. Short-term bears are dominant, and the rebound strength is weak, with upward resistance gradually becoming more prominent.

On the macro front, profit-taking has concentrated at high levels, leading to slight selling. ETF institutional inflows have slowed, making it difficult to push a one-sided trend.

Focus on today’s US April-end CPI year-over-year rate, which market consensus expects at 3.7%. If it remains near expectations, a narrow range around 82,500 is likely to persist. We will need to wait for subsequent PPI data and the Senate’s review of the CLARITY bill on Thursday.

Short-term reference suggestion: buy on dips around 805-810, target 82,500.