Scoping Bitcoin Direction After June CPI Data Announcement
Follow Us @
Scoping Bitcoin Direction After June CPI Data Announcement
The daily chart shows Bitcoin testing resistance at the lower level of the USD 30,750–USD 31,250 range for the 21st day in a row. However, BTC remains above its 50-day (USD 29,051) and 200-day (USD 26,432) EMAs, indicating bullish momentum in the short and long term.
Notably, the 50-day EMA continues to move away from the 200-day EMA and reflects the bullish momentum. Subsequently, the BTC price entered a corrective phase characterized by sideways price action.
Meanwhile, the price has formed an ascending wedge pattern, generally indicating a possible reversal. A fall below the lower cut indicates a potential reversal of the medium-term outlook.
It is important to mention that the USD 30,000 resistance level also has significant psychological resistance, increasing the probability of a mid-term rejection of this critical price level.
However, if resistance does occur, Bitcoin’s next target will be the static support area of USD 28,800.
“However, a break above the USD 30,000 resistance zone could trigger a rapid price spike towards a higher resistance level. If a successful breakout of this resistance level, BTC will rise towards the USD 31,150-USD 32,250 level,” concluded Fyqieh.
Scoping Bitcoin Direction After June CPI Data Announcement
Follow TODAYSGIST on Google News and receive alerts for the main trending news on cryptocurrency, market trends, upcoming events, predictions, sanctions and lots more!
SHARE POST AND EARN REWARDS:
Did you like this post?!!! Join our Audience reward campaign and make money reading articles, shares, likes and comment >> Join reward Program
FIRST TIME REACTIONS:
Be the first to leave us a comment, down the comment section. click allow to follow this topic and get firsthand daily updates.
JOIN US ON OUR SOCIAL MEDIA: << FACEBOOK >> | << WHATSAPP >> | << TELEGRAM >> | << TWITTER >
#Scoping #Bitcoin #Direction #June #CPI #Data #Announcement
-
usa today entertainment3 months ago
Red Eye (TV series 2024) Download Mp4 ▷ Todaysgist
-
Cryptocurrency3 months ago
Perpetrator Laundering Money Using Crypto Worth IDR 3.7 Trillion Caught in Hong Kong
-
usa today entertainment3 months ago
Luxe Listings Toronto (TV series) Download Mp4 ▷ Todaysgist
-
usa today entertainment3 months ago
HYBE Confirms There Was an Attempted Rebellion at ADOR, Says Gibah Min Hee Jin with Other Agency Officials
-
Sports3 months ago
The schedule for the rematch against Udinese is not favorable for AS Roma
-
usa today entertainment3 months ago
Brigands The Quest For Gold (2024) (Italian) (TV series) Download Mp4 ▷ Todaysgist
-
Cryptocurrency3 months ago
Today's Crypto Prices 30 April 2024: Bitcoin CS is on fire again
-
Horoscope3 months ago
check out today’s forecast (04/26) for your sign – Cities on the Net