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CoreCrypto1

BTC QUICK UPDATE!

Long
Bitcoin (BITSTAMP:BTCUSD)  
CoreCrypto1 Updated   
BITSTAMP:BTCUSD   Bitcoin
Trend Analysis Technical Indicators Chart Patterns BTC BTCUSDT Symmetrical Triangle support bounce
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trendanalysis indicator chartpattern btc btcusdt symmetricaltriangle support bounce
Hello everyone, if you like the idea, do not forget to support it with a like and follow.

Welcome to this quick BTC update. BTC is moving in a range of 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 27K and another one is at around 25K level.

IMO BTC holds the first support of 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 27K level.

Invalidation:- Daily close below 27K

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Comment:
snapshot

BTC holding the 27K support so far and as I said in my previous update as long as we hold above the 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.
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