๐จ Bitcoin Update โ Is $57k Still in Sight? ๐จ
Yesterday brought intense volatility for Bitcoin and the entire crypto market, with $BTC pumping and dumping nearly 5% within just a few hours! Despite the wild swings, Bitcoin struggled to gain significant upward momentum. ๐ง
As we gear up for tomorrow's U.S. Consumer Price Index (CPI) release, all eyes are on its potential impact on rate cuts. With this in mind, I'm not expecting major upside movement before the announcement. Based on the recent performance, a slight dip in Bitcoin and the broader market seems more likely. ๐
๐ Trade Update - Dynamic Reversal Band:
I'm currently developing an exciting new trade strategy called the Dynamic Reversal Band, blending Bollinger Bands, Stochastic RSI, EMA, and ADX. The strategy flashed an entry on Friday, prompting me to open a short trade with a 6.5% profit target and a 2.5% stop loss. The trade is still active, so stay tuned for updates!
