After Erbing surged to the 1,900 level last night, it has been consolidating horizontally for a long time. The current price has officially fallen below the 1,900 support level, the downward channel has been fully opened, and a new round of systematic sell-off has already started.

At this stage, Erbing has shown an independent surge pattern. If Erbing’s rise can pull up BTC and major altcoins to move higher in sync, the market still has some bullish value; but during this rally, other coins have failed to keep up throughout. In essence, this pull-up is a long/stop-hunt type of “liquidity baiting and washing” behavior by the main players against short positions.

The CPI data previously released is only a delayed reaction from last month’s US-Iran ceasefire and the sharp drop in oil prices; it cannot reverse the existing market trend. As the macro fundamentals return to their initial state, the downtrend driven by shorts will continue to release further downside room.

BTC rebounds to about 65,000-65,500, short, targeting 63,500-62,000 below.
Erbing rebounds to about 1,920-1,950, short, targeting 1,840-1,770 below$BTC $ETH #ETH站稳1900美元