Consumer Price Index (CPI) data will be out in 5 hours and#BTCwill be similar to yesterday.
I expect the inflation data to come in cooler than expected, so we should see a breakout to the upside, perhaps after some volatility in both directions.
Below the prices is strong support at the $59.2k/D1EMA200 confluence, with the following resistance levels noted on the chart.
On the higher timeframe we can also see compression. This should be followed by a strong movement in one direction.
Let's see if we can see a reversal of this medium-term trend in the next few days or if it will continue into September.
We are waiting for inflation data 🍿
Trade Agreements in my Telegram channel https://t.me/cryptoblogo
$BTC
I expect the inflation data to come in cooler than expected, so we should see a breakout to the upside, perhaps after some volatility in both directions.
Below the prices is strong support at the $59.2k/D1EMA200 confluence, with the following resistance levels noted on the chart.
On the higher timeframe we can also see compression. This should be followed by a strong movement in one direction.
Let's see if we can see a reversal of this medium-term trend in the next few days or if it will continue into September.
We are waiting for inflation data 🍿
Trade Agreements in my Telegram channel https://t.me/cryptoblogo
$BTC
