About BTC Movements:
๐ Today, $BTC experienced two fake pumps, and despite an attempt to break the resistance at 26,880, the bullish trend couldn't sustain, leading to a decline. These false breakouts on resistance could result in a drop below 26,340-26,250.
๐ Currently, BTC has truly broken the support level at 26,769, indicating a potential drop to the expected target of 26,250. If you don't have a position, you can consider opening a short position at the current market price. If you already have a short position, it's advisable to hold it.
๐ These confirmations are based on my 15-minute chart analysis, while the 1-hour and 4-hour charts continue to exhibit strong bearish momentum. Even the 15-minute attempt to change to a bullish momentum was unsuccessful, so all time frames are indicating strong bearish momentum.
๐ Later today at 6:00 PM IST, CPI data will be released, and I know some traders follow this data. While I don't place significant emphasis on it, I will share my analysis just before the CPI data release on the 1-hour .
๐ I hope everyone is profiting from my analysis. Please continue to follow my information diligently and use proper risk management.
Thanks for your support.
Author(X&T): KingofBTC2024
