Potential Bullish BTC 11 May 2022

BTC 11 May 2022

The current implied volatility is at 81.61%/year
So that converted into daily is 5.14%

The opening price was on 30970
So based on that our
TOP 32600
BOT 29410
This channel has a 88.3% change to sustain based on the last 290 candles

At the same time with 79.3% changes
TOP 32200
BOT 29800

From fundamental point, today we have CPI release and this marks a huge volatility moment
From volume point, current POC is around 31100

So based on this, and how the SPX market moved in the last 12h aprox, I can expect a small bullish moment
for this we can wait and make a long entry around 30k, with a stop loss on 29750/29500/29410

The other was is to not wait for the rebounce on the support and instead just enter now, with the same stop loss values.

For take profit look for 31k+, after 31k you can start securing some profits and move the stop loss on break even.