Wednesday Trend Analysis:

Bitcoin recorded a rebound today after two consecutive days of pullback. After testing a low near 939 in the early hours of Tuesday, it rebounded, and in the early hours of today, it tested around 942 and rebounded. The second dip did not break the low, and the intraday rebound seems reasonable.

The daily chart can currently only be seen as a high-level fluctuation, with a significant amplitude. There has not been a substantial pullback continuity, nor is there an obvious trend of a secondary upward breakout. After breaking the psychological price level of 100,000, it remains primarily in adjustment. If this daily chart replaces the pullback with a sideways fluctuation for adjustment, the longer it lasts, the more unfavorable it is for the bulls. Therefore, if this wave of increase is to continue to refresh new highs, a breakout must occur in the short term.

On a short-term basis, the low point of 942-985 during the early hours has already formed a rebound of over 4,000 points, and the morning opening low of 957-985 has also rebounded by 2,800 points. Today is characterized by a small upward trend on the hourly chart, but it started to rise before the CPI data was announced, which may not be a good sign. If it is an early digestion, the data is likely to result in a peak followed by a retreat.

Regarding the evening CPI data, if the annual rate is 2.8% or even 2.9%, it will likely continue to decline tonight, testing 94,000, or even breaking below 93,000.

If the data is 2.7%, meeting expectations, it will likely peak around 99,000 and then retreat to 96,000.

If the data is the same as the previous value of 2.6% or lower than the previous 2.5%, the short-term price will continue today’s rebound trend and rise to 100,000, challenging 102,000.