【Pick One】Before CPI, will $BTC sweep 84.2K first, or dip to 83K first?
U.S. September CPI is due at 20:30 tonight. Bloomberg’s survey expects core CPI to rise 0.2% month over month. At 12:34, BTC was trading at 83,846 on Binance, right in the middle of its 1H range.
My pick: a quick dip first. The 1H rebound is on declining volume, while the drop is on rising volume. Turnover over the last 10 candles is only 0.62 times that of the previous period—there’s no one chasing it higher.
Around 83,100 below is where the 0.618 Fib level and MA99 converge. I’d rather wait there.
Plan 1: Consider placing a small long order around 83,100, with a stop loss at 82,600 and a target of 84,100.
Plan 2: If price first rallies to 84,350 without a volume increase, consider placing a small short order, with a stop loss at 84,750.
Invalidation: If, after the data release, price holds above 84,434 on strong 1H volume, that signals an upside breakout. I’d stop waiting for a pullback, cancel the long order, and admit I was wrong.
Which do you pick: 84.2K or 83K?
Sources: Bloomberg, Binance
$BTC #比特币 #Federal Reserve
#Binance Square
⚠️ The above is a summary of information and personal opinion, not investment advice. DYOR.
U.S. September CPI is due at 20:30 tonight. Bloomberg’s survey expects core CPI to rise 0.2% month over month. At 12:34, BTC was trading at 83,846 on Binance, right in the middle of its 1H range.
My pick: a quick dip first. The 1H rebound is on declining volume, while the drop is on rising volume. Turnover over the last 10 candles is only 0.62 times that of the previous period—there’s no one chasing it higher.
Around 83,100 below is where the 0.618 Fib level and MA99 converge. I’d rather wait there.
Plan 1: Consider placing a small long order around 83,100, with a stop loss at 82,600 and a target of 84,100.
Plan 2: If price first rallies to 84,350 without a volume increase, consider placing a small short order, with a stop loss at 84,750.
Invalidation: If, after the data release, price holds above 84,434 on strong 1H volume, that signals an upside breakout. I’d stop waiting for a pullback, cancel the long order, and admit I was wrong.
Which do you pick: 84.2K or 83K?
Sources: Bloomberg, Binance
$BTC #比特币 #Federal Reserve
#Binance Square
⚠️ The above is a summary of information and personal opinion, not investment advice. DYOR.