The CPI of Jan was lower than the previous value but higher than the expected value. After data release, US stocks corrected, but crypto-market remained strong. The advanced pricing in the market gradually eased. With no major economic data coming out this week, the market will continue its bullish trend after recovery.
After BTC broke through the previous high last week, the next target is 25000, the resistance level we set last week. It is a strong resistance level. After the price rose last Wednesday, even if the power of bears increased and there were many upward needles, the bulls took the control. It is difficult for the price to fall before breaking out.
Conclusion: There is high probability that the rise is not over. Both the bears and bulls are increasing, but the bulls are stronger. We believe that the price will still attack 25000 in the next few days. After the attack, if the bears does not decay, may be a long red candle appears with high trading volume, then it will enter a callback process. We maintained last week's support level at 21500 and raised the resistance level to 26500.
If you have any ideas, welcome to communicate with us:)
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
After BTC broke through the previous high last week, the next target is 25000, the resistance level we set last week. It is a strong resistance level. After the price rose last Wednesday, even if the power of bears increased and there were many upward needles, the bulls took the control. It is difficult for the price to fall before breaking out.
Conclusion: There is high probability that the rise is not over. Both the bears and bulls are increasing, but the bulls are stronger. We believe that the price will still attack 25000 in the next few days. After the attack, if the bears does not decay, may be a long red candle appears with high trading volume, then it will enter a callback process. We maintained last week's support level at 21500 and raised the resistance level to 26500.
If you have any ideas, welcome to communicate with us:)
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
