Market Update: $BTC Outlook 📊
Welcome back! Let's start with $BTC before diving into $ZEC and the broader altcoin market.
Bitcoin is currently testing resistance around $66,450, with $67,292 standing out as the upper limit of my bullish scenario.
Why this level matters:
Over the past several days, the market has received a wave of bullish catalysts:
- Positive CPI and PPI data
- Cooling inflation
- Improved macro sentiment
- Strong ETF inflows
Despite all of that, BTC has still failed to reclaim its previous swing high. If the momentum were truly bullish, these developments would likely have pushed price much higher.
From a technical perspective, both the 4H and Daily market structures continue to lean bearish, so I'm treating this rally with caution.
For now, I'm watching the resistance zone closely and waiting for confirmation before expecting any sustained breakout.
$BTC #Bitcoin #crypto #TechnicalAnalysis #trading
Welcome back! Let's start with $BTC before diving into $ZEC and the broader altcoin market.
Bitcoin is currently testing resistance around $66,450, with $67,292 standing out as the upper limit of my bullish scenario.
Why this level matters:
Over the past several days, the market has received a wave of bullish catalysts:
- Positive CPI and PPI data
- Cooling inflation
- Improved macro sentiment
- Strong ETF inflows
Despite all of that, BTC has still failed to reclaim its previous swing high. If the momentum were truly bullish, these developments would likely have pushed price much higher.
From a technical perspective, both the 4H and Daily market structures continue to lean bearish, so I'm treating this rally with caution.
For now, I'm watching the resistance zone closely and waiting for confirmation before expecting any sustained breakout.
$BTC #Bitcoin #crypto #TechnicalAnalysis #trading