BTC at Crossroads: Consolidation Before the Next Leg Up?
After Bitcoin came out of the consolidation, the price is reluctant to rise further. The market remains uncertain about the future moves considering that the FED is expected to cut rates at the upcoming meeting.
Perhaps the US PPI data today will start the move considering that the market should speculate again regarding the FOMC meeting.
On the other hand, BTC is well positioned for an optimistic move. It may correct in this area before moving higher. This is a normal scenario.
It is also possible that the price will fall within the pattern even more considering that the markets are still volatile and unclear before we see the optimistic move resume again.
Main targets
98900
106300
114500
You may find more details in the chart!
Thank you and Good Luck!
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