The wave of market activity discussed at the end of December is now gradually unfolding.

Yesterday's CPI data looked good, and BTC took advantage of the momentum to surge, rising sharply. But there's a key point to clarify—don't be fooled by this intensity. Essentially, we are still in the strong rebound phase of a correction, not a trend reversal. This is very important.

From the weekly and monthly chart perspectives, there are clear signs of bearish divergence. Although liquidity might push the price up to the 9.7-10K range, the underlying direction hasn't changed. If it hits a wall there, there's still a probability of forming a head and shoulders pattern.

My previously given target has always been clear: below 80,000 is a high-probability zone, and 70,000 is just a matter of time, with about a 60% chance. There are two possible paths—either a direct drop from here or completing the pattern and then gaining strength. Either way, it's just a matter of time.

Let me share how I am operating. I have long positions at 90,000 and 85,000, as marked in previous posts and charts. The key monitoring point is whether the daily candles starting with 9 can hold. Honestly, the 85,000 position couldn't withstand the volatility and was closed out. But I held onto the 90,000 position.

After the CPI data was released yesterday, market sentiment turned bullish, and retail investor enthusiasm surged. To be honest—this is definitely not the start of a bull market. Don't follow the herd.

My mid-term bearish outlook remains valid; the key is to find the right entry points and timing. If the market gives a chance at the 9.7-10K range, I will gradually build positions. The market moves on its own; there's no need to guess what will happen next in advance. Just follow the rhythm and eat accordingly.