BTC EFT Update and US30 Analysis.
Today's focus: US30
Pattern – Consolidation / ascending triangle pattern.
Support – 37,400
Resistance – 37,770
Hi, and thanks for checking out today's update.
Crypto had a mainly higher but, in some cases, muted response to news that BTC ETFs will become a reality. We have run over some of the news and moves since yesterday.
The US30 is today's chart, and we are seeing a similar situation to what we discussed in yesterday's ETH update. ETH was one of the better-performing majors after the news hit yesterday.
The US30 sits in a continuation pattern that's inside a consolidation pattern. Buyer momentum remains firm today after yesterday's rally, and we are looking at tonight's CPI data. If CPI remains unchanged or surprises the downside, we will look for further upside on the US30. If it comes in hotter than expected, this could turn the price lower from resistance or above, depending on where price is later tonight.
US CPI data is due at 12:30 am ADET Friday.
Good trading.
Pattern – Consolidation / ascending triangle pattern.
Support – 37,400
Resistance – 37,770
Hi, and thanks for checking out today's update.
Crypto had a mainly higher but, in some cases, muted response to news that BTC ETFs will become a reality. We have run over some of the news and moves since yesterday.
The US30 is today's chart, and we are seeing a similar situation to what we discussed in yesterday's ETH update. ETH was one of the better-performing majors after the news hit yesterday.
The US30 sits in a continuation pattern that's inside a consolidation pattern. Buyer momentum remains firm today after yesterday's rally, and we are looking at tonight's CPI data. If CPI remains unchanged or surprises the downside, we will look for further upside on the US30. If it comes in hotter than expected, this could turn the price lower from resistance or above, depending on where price is later tonight.
US CPI data is due at 12:30 am ADET Friday.
Good trading.
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