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Welcome to this quick BTC update. BTC is moving in a range of FWB:27K-30k for many days. So what's next from here?
BTC is forming a symmetrical triangle-like structure in the daily time frame and once again it got rejected from the upper trendline of the triangle. We have two important supports below. One is at around FWB:27K and another one is at around FWB:25K level.
IMO BTC holds the first support of FWB:27K and we might see a quick bounce from there. For a bullish scenario, we need a clear breakout of this triangle. As of now let's see how the price reacts after reaching the FWB:27K level.
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BTC holding the FWB:27K support so far and as I said in my previous update as long as we hold above the FWB:27K level chances for a bounce are high from here. Tomorrow CPI data will come out and I'm expecting a positive outcome of CPI data. However, we might see a quick dump before or around CPI and after that, we might see a quick pump.
Let's see how the market reacts tomorrow. Will keep updating you.