Bitcoin Trend Analytics August 10 - volatility cased by CPI
The challenge failed due to the strong resistance of the triangle. After 16:00 (UTC+8) BTC dropped and touched short-term bullish support.
Monitor today if the support could hold up the price.
According to the strength of the triangle, the resistance today diverts to $24736.27-$24457.91.
The price could drop to $22775.99 if the short-term bullish trend is broken.
Only by taking hold of $23532.87 could it stabilize on a daily frame. If $22775,99 is broken without pulling back, then it will end the short-term bullish trend.
Keep an eye on the adjusted CPI to be released at 20:30 (UTC+8). Watch out for the high volatility risks.
Monitor today if the support could hold up the price.
According to the strength of the triangle, the resistance today diverts to $24736.27-$24457.91.
The price could drop to $22775.99 if the short-term bullish trend is broken.
Only by taking hold of $23532.87 could it stabilize on a daily frame. If $22775,99 is broken without pulling back, then it will end the short-term bullish trend.
Keep an eye on the adjusted CPI to be released at 20:30 (UTC+8). Watch out for the high volatility risks.