đ©ž$BTC Update â Multiple Resistances Ahead of CPI!
Assalam-o-Alaikum! Tomorrow at 5:30 PM PKT / 6:00 PM IST, we have important US CPI data coming up. Iâll cover the forecast and explain what the numbers could mean for BTC and the broader market.
âŒïžCurrent BTC Structure
Bitcoin is still trading inside a bearish rising wedge, with repeated rejections from the key resistance zone.
Key Levels to Watch:
đą Support: $81,000â$81,200
đŽ Immediate Resistance: $84,000â$84,300
If BTC breaks above this zone, donât rush into longs. Further resistance sits at:
âą $85,500
âą $86,600
âą $87,200
âą $88,000
â ïž Bearish Scenario
A confirmed breakdown below $80,000 could open the door to further downside, with $76,000 as the next major target.
For now, BTC remains trapped between support and resistance. Watch the price action closely, especially ahead of CPI, and avoid entering without confirmation.
InshaAllah, weâll break down the CPI data tomorrow.
Manage risk properly.
#CPIWatch
Assalam-o-Alaikum! Tomorrow at 5:30 PM PKT / 6:00 PM IST, we have important US CPI data coming up. Iâll cover the forecast and explain what the numbers could mean for BTC and the broader market.
âŒïžCurrent BTC Structure
Bitcoin is still trading inside a bearish rising wedge, with repeated rejections from the key resistance zone.
Key Levels to Watch:
đą Support: $81,000â$81,200
đŽ Immediate Resistance: $84,000â$84,300
If BTC breaks above this zone, donât rush into longs. Further resistance sits at:
âą $85,500
âą $86,600
âą $87,200
âą $88,000
â ïž Bearish Scenario
A confirmed breakdown below $80,000 could open the door to further downside, with $76,000 as the next major target.
For now, BTC remains trapped between support and resistance. Watch the price action closely, especially ahead of CPI, and avoid entering without confirmation.
InshaAllah, weâll break down the CPI data tomorrow.
Manage risk properly.
#CPIWatch