🚨 BREAKING 🚨 US CPI DATA CAME IN AT 2.6% EXPECTATIONS: 2 | TMC on Binance Square

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🚨 BREAKING 🚨
US CPI DATA CAME IN AT 2.6%
EXPECTATIONS: 2.6%

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Market Update: Bitcoin is currently holding strong at two critical support levels on the 4-hour chart. The 4-hour EMA8 is continuing to provide solid support, as it has in recent days. Additionally, the $89.8k level (the high from Monday) is holding firm with every 4-hour close. For the bullish momentum to persist in the short term, these support levels need to stay intact. While Bitcoin is showing resilience, its dominance is pushing higher, which is leading to weakness in altcoins. Therefore, caution is key—particularly for those trading altcoins or using leverage.

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#Marketupdate The 4-hour EMA8 (blue line), which we highlighted in yesterday’s update, is still holding up as key support. This has been evident from the solid reactions over the past day, with recent candles closing right around this level. As of now, the EMA8 is just above $87k, and as long as this level holds, the short-term uptrend remains intact. A break below it, with a 4-hour close beneath, could signal a potential pullback towards the lower $80k zone. $90k continues to be a tough psychological resistance level to break through. Overall, it’s been an excellent week for trading, but with CPI data due today, it’s wise to stay patient and monitor the reaction. We may look to place some limit orders based on how the market responds. #ThanksForAll

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#Marketupdates Bitcoin has made a remarkable push, briefly touching $90k overnight, and it's clear that this level is acting as significant psychological resistance. While we're in price discovery mode, the $90k mark is a key point to watch, and the 4-hour chart confirms this as a critical hurdle. If Bitcoin can hold above $90k, the next stop could easily be $100k. On the support side, the blue line on the 4-hour chart is the EMA8, which has been a reliable indicator since the breakout last week. This level has shown strength again today, and maintaining this support will be key to sustaining upward momentum. Any break below this would likely signal a deeper pullback or consolidation phase before Bitcoin can continue higher. At this point, it's all about how Bitcoin reacts to these levels: if $90k holds as resistance or gives way, and whether the EMA8 continues to provide solid support for the next leg up.

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