$BTC
💵 #BTC | Bitcoin Update
After the October 6th drop, the price hit a new low before rebounding towards the resistance we anticipated at $84,200.
🇺🇸 US Inflation Data
📅 Wednesday, October 14th
🔹 Forecast: 0.6%
🔹 Previous Reading: 0.4%
📊 How might the market react?
🔻 Above 0.6%: Could put downward pressure on crypto.
Between 0.4% and 0.6%: The impact could be mixed.
Below 0.4%: Could support an upward move.
🚨Key Levels:
Support: $82,000
Resistance: $84,000 – $85,000
Holding above $84,000 after the data release could support continued upward movement, while breaking below the $82,000 support weakens the bullish scenario.
🚀Conclusion: If the correction is complete and support holds, we may see a renewed attempt to break through the resistance levels.
This is an analytical observation and not investment advice. The market's reaction to the data may differ from expectations.
💵 #BTC | Bitcoin Update
After the October 6th drop, the price hit a new low before rebounding towards the resistance we anticipated at $84,200.
🇺🇸 US Inflation Data
📅 Wednesday, October 14th
🔹 Forecast: 0.6%
🔹 Previous Reading: 0.4%
📊 How might the market react?
🔻 Above 0.6%: Could put downward pressure on crypto.
Between 0.4% and 0.6%: The impact could be mixed.
Below 0.4%: Could support an upward move.
🚨Key Levels:
Support: $82,000
Resistance: $84,000 – $85,000
Holding above $84,000 after the data release could support continued upward movement, while breaking below the $82,000 support weakens the bullish scenario.
🚀Conclusion: If the correction is complete and support holds, we may see a renewed attempt to break through the resistance levels.
This is an analytical observation and not investment advice. The market's reaction to the data may differ from expectations.