I’m entering Bitcoin ($BTC) at $60,250, $59,800, and $59,400, with a stop loss set if it closes below $58,900 on the 4-hour chart. I’ll update my targets later. I’m trading against the current trend, but I believe we’ll see one more drop before the Producer Price Index (PPI) data is released today. This would line up with a retest of the 4-hour yearly VWAP and could potentially trigger an inverse head and shoulders breakout on the short-term charts. Ideally, this would push the price up to $62.3K. I’m confident we’ll hit $62.3K one way or another.
