Hello Traders! Happy CPI DAY:
let's Analysis the Market,As you know BTC this is CPI week and after the opening of new weekly candle market pumps about 6% but one thing is affecting the traders psychology as small timeframes like 4Hour etc is bullish but if you look the weekly chart price is retesting its resistance zone (which previously act as support & now act as resistance) until unless if we didn't close the current weekly candle above this resistance zone which is around 58.150k level. then we are in a downtrend and our next target in downtrend is 52.500k liquidity zone.This is weekly analysis of BTC now let's talk about Daily analysis of BTC:
on daily timeframe,BTC price is continuously pushing up and now price is facing rejection around 57.9k which is first resistance for BTC at daily,price didn't able to break its resistance so stay alert with your longs.
MY point of view on Market:
1.After the opening of this week candle price is pumped around 6% but this is doing for trader went in FOMO but don't be fomo
2.Price is retesting its weekly flip level which is act as resistance, if we didn't close above resistance we are in a downtrend
3.IF you look at the daily chart price is continuously pushing up no Red candle is formed but we have old resistance on left side price didn't make able to break it.
4 I am looking to short the Market in upcoming time days stay Tuned stay blessed
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