#BTC US producer inflation data is due today; markets tend to tread cautiously on data release days and experience sharp volatility once the figures are announced.
Therefore, short-term traders, in particular, should exercise caution.
As for BTC, the levels we are monitoring are clear: the potential for an upward move remains as long as the price stays above 76,300.
If a daily or weekly close occurs above 82,885, it would mark the first higher high relative to the most recent downward wave. This would provide a further signal that the uptrend is likely to continue, allowing us to monitor higher resistance levels thereafter.
If the price closes below 76,300, there is a possibility of testing the support zone around 67,000–66,000. Such a decline could form the final shoulder of a potential inverse head-and-shoulders (H&S) pattern. If the price subsequently holds above 83,000, the pattern would be activated, and a continued rise toward higher resistance levels would be expected.
Therefore, short-term traders, in particular, should exercise caution.
As for BTC, the levels we are monitoring are clear: the potential for an upward move remains as long as the price stays above 76,300.
If a daily or weekly close occurs above 82,885, it would mark the first higher high relative to the most recent downward wave. This would provide a further signal that the uptrend is likely to continue, allowing us to monitor higher resistance levels thereafter.
If the price closes below 76,300, there is a possibility of testing the support zone around 67,000–66,000. Such a decline could form the final shoulder of a potential inverse head-and-shoulders (H&S) pattern. If the price subsequently holds above 83,000, the pattern would be activated, and a continued rise toward higher resistance levels would be expected.
