After a night of intense tug-of-war between bulls and bears, $BTC 30-minute chart currently looks like the bulls are holding the upper hand.
Because the rise from 81,033 was a single impulsive move that shot straight up, but its pullback adjustment used a corrective line segment.
The level of that line segment is larger than a single impulsive move.
In other words, it's easy to go up but hard to come down—everyone can see that clearly, right?
I reckon the market sentiment is still waiting for tonight's CPI data release. Once it's out and everyone's emotions settle, it'll continue heading higher.
There'll probably be some volatility, but for now, the bulls are showing strong resilience. The bears are dumping, but the bulls are absorbing it all.
After tonight's CPI data drops, it's highly likely there won't be a rate hike in October.
Once the data's out, the market will consolidate sentiment-wise for a bit, then head upward. Let's see if that 90,000 target can be reached in about a week—we'll watch and wait.
#CPIdata #cpi
Because the rise from 81,033 was a single impulsive move that shot straight up, but its pullback adjustment used a corrective line segment.
The level of that line segment is larger than a single impulsive move.
In other words, it's easy to go up but hard to come down—everyone can see that clearly, right?
I reckon the market sentiment is still waiting for tonight's CPI data release. Once it's out and everyone's emotions settle, it'll continue heading higher.
There'll probably be some volatility, but for now, the bulls are showing strong resilience. The bears are dumping, but the bulls are absorbing it all.
After tonight's CPI data drops, it's highly likely there won't be a rate hike in October.
Once the data's out, the market will consolidate sentiment-wise for a bit, then head upward. Let's see if that 90,000 target can be reached in about a week—we'll watch and wait.
#CPIdata #cpi