Sorry i forgot to post but heres today's $BTC update.

Last night i was studying 2 scenarios as i watched BTC trade in a downward oscillation. If you've been taking my advice you should have sold at the time of peak @72500 or even later when i said sell before it drops below 70000.

The recession was expected and i told you in my previous posts to expect a couple red days after the peak as it was obvious people were going to take profits and exit.

BTC right now is retesting the pennant breakout point. So far it will remain in consolidation right above the 68k short-term support i discussed for the last few days. The retest will happen tomorrow. Coincidentally, the CPI report will be tomorrow too.

I have drawn the scenarios on the 1h chart.

Scenario 1 already failed. It was expected to bounce off the local support at 70k before going back up to retest the 73k line. I was sure it will fail because looking at the trading volumes was enough to show the buying momentum died out.

Scenario 2&3: a return into the pennant area and a retest of the pennant breakthrough price @69540 where (2) the breakthrough succeeds and continuous pumps will drive BTC up to 75k after acquiring more momentum and volume accumulation in this area (3) the breakthrough fails and BTC continues dropping towards the lower mid-term support zone @66500 and might go even lower towards the mid-term support @62300. Support at this level .

As i said, the main factor that will determine the result of either scenario is tomorrows CPI report @ 8.30AM ET. I suggest you guys begin tracking the trading volume an hour prior to that as most big traders are likely to get the report leaked earlier.

I provided the 1h chart indicating the forecast for today and tomorrow with the scenarios drawn out. Also, the 4h chart showing the updated fibonacci levels for the rest of the week with all the resistance and support levels.

If you find my information in any way useful or profitable to your trading, make sure to like & follow. Tipping is not necessary but much appreciated.#BullorBear #BinanceLaunchpool #Nonfarm