Bitcoin, Ethereum Slip After CPI Shock—But Charts Still Say 'Not Bearish': Analysis
Bitcoin declined 1.2% to $107,369, while Ethereum dropped 0.96% to $2,746 following cooler-than-expected Consumer Price Index data. The initial surge above $110,000 for Bitcoin reversed as profit-taking occurred after the CPI report indicated annual inflation at 2.4%. Both assets remain within ascending channels, suggesting the pullback is a normal retracement. The Crypto Fear and Greed Index fell from 72 to 71, indicating a slight cooling in market sentiment. Bitcoin's Relative Strength Index (RSI) is at 55, indicating room for upward movement, while the Average Directional Index (ADX) at 17 suggests moderate trend strength. Key support for Bitcoin is around $103,000. Ethereum's RSI is at 62, indicating potential for further upside, with key support between $2,400-$2,500 and resistance at $2,850. Key levels to monitor include Bitcoin's support at $104,000-$105,000 and Ethereum's resistance at $2,850.
