BTC QUICK UPDATE!
Updated
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Welcome to this quick BTC update.
After the bearish CPI data, BTC bounced nicely and touched the 18k level. Currently, it is in the resistance zone. I am expecting a retracement from here.
Expecting it to touch the 16.8k-17k level from here where the lower trendline of the triangle lies. Today is another important event which is FOMC. So we might see some more volatile moves.
Invalidation:- Any 4hr candle close above 18.2k will invalidate this scenario.
Let's see how FOMC impacts the price today. I'll keep updating you.
If you like this idea then do support it with like and follow.
Also, share your views in the comment section.
Thank You!
Welcome to this quick BTC update.
After the bearish CPI data, BTC bounced nicely and touched the 18k level. Currently, it is in the resistance zone. I am expecting a retracement from here.
Expecting it to touch the 16.8k-17k level from here where the lower trendline of the triangle lies. Today is another important event which is FOMC. So we might see some more volatile moves.
Invalidation:- Any 4hr candle close above 18.2k will invalidate this scenario.
Let's see how FOMC impacts the price today. I'll keep updating you.
If you like this idea then do support it with like and follow.
Also, share your views in the comment section.
Thank You!
Note
BTC is going down as expected. A little bit of support around the 17.6k level. A break below 17.6k will send the price to the 17k level. Maybe the price will consolidate here for some time to grab more longs and dumps further.
Will wait patiently for the price to come down near the 16.8k-17k level for buying anything. For a completely bullish scenario, the price needs to break and hold above the 18.2k level. Let's see how this goes.
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