This morning, Bitcoin continued to trade in a weak, range-bound pattern at high levels. After a slight push up in the early hours, it met resistance and pulled back. During the morning session, it rapidly dipped to digest short-term sell pressure. Overall, it remains in a state of profit-taking at elevated levels, with intensified tug-of-war between bulls and bears, and has not broken out of a one-directional trend.

On the technical side, the 4-hour Bollinger Bands are gradually flattening, and price is trading around the mid-range. The KDJ has dipped into oversold territory, and the RSI has fallen back to low levels. Short-term bears hold the upper hand, and the rebound strength is relatively weak, with overhead resistance becoming increasingly prominent.

In terms of macro factors, short-term profit-taking has clustered in the high zone, accompanied by mild selling. ETF institutional inflows have slowed, making it difficult to drive a one-sided move.

Key to watch today is the U.S. April-end CP1年 rate. The market broadly expects it to be 3.7%. If it comes in close to expectations, the odds are high that price will keep a narrow range oscillation around 82,500. In that case, you’ll need to continue waiting for the market’s subsequent PPl data and the Senate review of the CLARITY Act on Thursday.

Short-term reference suggestion: buy the dip around 805–810, with a target of 82500.