Market Update -
Heading into the CPI release today it is no surprise to see undecided price action on Bitcoin. We can expect this to be decided on whether the CPI print is good or bad. For now we have clear resistance at $58k, and just above that at $58.6k is the DM VAH as well as 4hr EMA 200. If the market reacts well to the figures then I think this level could be tested today. In terms of support, all eyes on the green line at $58.5k. This has been respected as 4 hour support on every candle close over the past 24 hours. Lose this and we can expect $55.3k next.
I am actively scanning the market for opportunities, so let's see how CPI goes in a couple of hours.
