📰With CPI (Consumer Price Index) numbers coming out tomorrow and PPI (Producer Price Index) rising 0.4% in September we could be preparing the next big move of Bitcoin. The release of this numbers could be the catalyst.
📊Lets look at the chart:
• Descending triangle, a bearish chart pattern.
• Price holding above $18,000 support area.
• 2 targets to the upside if we break the trendline: $22,000 and $25,000 resistance areas.
• If we lose the support we are currently holding we could see a sharp decline to next support area $12,000
✅In both scenarios opportunity arises.
📊Lets look at the chart:
• Descending triangle, a bearish chart pattern.
• Price holding above $18,000 support area.
• 2 targets to the upside if we break the trendline: $22,000 and $25,000 resistance areas.
• If we lose the support we are currently holding we could see a sharp decline to next support area $12,000
✅In both scenarios opportunity arises.
Comment:
Bitcoin pushing towards the support after CPI
Comment:
Bullish scenario played out, I think is possible to retest $22,000 resistance area.