$BTC
đ” #BTC | Bitcoin Update
After the October 6th drop, the price hit a new low before rebounding towards the resistance we anticipated at $84,200.
đșđž US Inflation Data
đ Wednesday, October 14th
đč Forecast: 0.6%
đč Previous Reading: 0.4%
đ How might the market react?
đ» Above 0.6%: Could put downward pressure on crypto.
Between 0.4% and 0.6%: The impact could be mixed.
Below 0.4%: Could support an upward move.
đšKey Levels:
Support: $82,000
Resistance: $84,000 â $85,000
Holding above $84,000 after the data release could support continued upward movement, while breaking below the $82,000 support weakens the bullish scenario.
đConclusion: If the correction is complete and support holds, we may see a renewed attempt to break through the resistance levels.
This is an analytical observation and not investment advice. The market's reaction to the data may differ from expectations.
đ” #BTC | Bitcoin Update
After the October 6th drop, the price hit a new low before rebounding towards the resistance we anticipated at $84,200.
đșđž US Inflation Data
đ Wednesday, October 14th
đč Forecast: 0.6%
đč Previous Reading: 0.4%
đ How might the market react?
đ» Above 0.6%: Could put downward pressure on crypto.
Between 0.4% and 0.6%: The impact could be mixed.
Below 0.4%: Could support an upward move.
đšKey Levels:
Support: $82,000
Resistance: $84,000 â $85,000
Holding above $84,000 after the data release could support continued upward movement, while breaking below the $82,000 support weakens the bullish scenario.
đConclusion: If the correction is complete and support holds, we may see a renewed attempt to break through the resistance levels.
This is an analytical observation and not investment advice. The market's reaction to the data may differ from expectations.