Surprisingly, Bitcoin has pumped strongly and broken through the previous key levels. 🚀
Now, there are 2 important areas to watch:
🟢 Previous Resistance → New Support The broken resistance zone could now act as the closest support if BTC pulls back.
🔴 $81.2K–$81.8K Resistance BTC is approaching a strong resistance area where price has faced rejection multiple times.
📌 Key scenario: If BTC holds the new support → continuation higher could be possible. If BTC gets rejected from $81.2K–$81.8K → a pullback/retest of support could follow.
Current market data also shows BTC trading around the $81K area, with ~$81.2K–$81.5K identified as an important resistance region.
Bitcoin has finally reached the previous major support zone, exactly as outlined in the earlier outlooks. 👀
From here, a rebound is possible as $BTC reacts to this key support. 📈
However, the mid-term picture remains bearish for me. ⚠️
🇺🇸 US CPI is due tomorrow, September 11. The market is already highly focused on inflation and Fed expectations, with the September 15–16 FOMC meeting next week.
My view: a lot of the recent weakness may already reflect expectations, but CPI can still bring fresh volatility.
The chart shows a striking similarity between previous consolidation → breakout phases and the current market structure.
₿ BTC: Could this be another major accumulation before the next expansion? ♦️ ETH: Consolidation after a strong move could set up another breakout if momentum returns.
The setup looks interesting, but confirmation is key. 📊