#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.