With macro data driving the market, take a range-bound approach: CPI, PPI, and the Fed’s rate decision at the end of the month are all coming up. Before the data comes out, BTC tends to test round-number levels back and forth. Bulls need to reclaim 85,000 to open the door to a recovery.
BTC is currently at 83,668, up 0.8% over 24 hours, stuck between support at 82,000 and resistance at 85,000. With the data still pending, don’t chase the price higher. Scale in near the bottom of the range around 82,000, and exit if it falls below 81,500. If the data is bullish and BTC breaks above 85,000 on strong volume, the next target is 87,200.
#BTC
BTC is currently at 83,668, up 0.8% over 24 hours, stuck between support at 82,000 and resistance at 85,000. With the data still pending, don’t chase the price higher. Scale in near the bottom of the range around 82,000, and exit if it falls below 81,500. If the data is bullish and BTC breaks above 85,000 on strong volume, the next target is 87,200.
#BTC