🚨 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 seeing a retest of the 4 hour support at $97.4k which we are looking to see hold. If BTC starts to break down from this level then I am watching the $95k-$93k area for a better reaction. Bitcoin dominance retested the 57% level, which is weekly support, and is starting to bounce as we would expect. Careful in altcoins here- do not over expose.

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Market Update - Bitcoin has not yet hit the magic $100k figure but we are seeing consolidation above $98k. We are seeing a very tight trading range- every 4 hour candle over the past day has closed between $98.5k and $99.2k. This has led to a drop in BTC dominance and overnight altcoins have started to lead the way. It is tricky to operate around these levels, with BTC at major resistance, but keep an eye on the 58% area of BRC dominance- This is major support. A bounce from here and alts will retrace, or break below this level and alts will continue to out-perform.

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SEC chair Gensler's departure sparks hope for compromises in crypto cases, regulation #SECCryptoRule

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Market Update - Bitcoin came within a few hundred dollars of the milestone price of $100k. The reaction at $100k will be interesting, and there is a chance that we see whip saw price action- meaning both short and long liquidations occur quickly. We have lower time frame support at $98k for now, so we are looking for this to continue. I am actively looking for areas of interest/ trade ideas, but TOTAL2 is sitting right at a huge weekly resistance level, so for now we must be patient looking for entries.

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Market Update - As we have been mentioning the past couple of days, as long as Bitcoin was holding $90k as support then $96k was likely. That is exactly what has happened, with $98k being reached. We are back into price discovery mode, after breaking from the recent sideways range, and I am interested in the reaction of a $95k retest. Be careful with altcoins they are lagging behind as BTC dominance is pushing higher.

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