Bitcoin broke through 30K, and it looks like it's not going to stop yet. This was facilitated by the positive macro data that came out this week, the inflation rate went down to 5%, this forecast we considered in the last idea and expected a breakdown of the upper consolidation boundary. The decline in inflation is a good signal to buy risky assets, and there is a chance that we will see the continuation of growth until the next FOMC meeting.
The price went down to the area of the last year's prorogation, where the upper border is in the range of 32200-32300, but there were no large volumes at these prices, either on the volume profile or on the cluster volumes, so we can assume the following scenario, the first target where the price is headed is 31500-32300 zone, And if the price latch on to that zone, there is a chance of a very fast growth to the level of 36k, with intermediate objectives of 34 and 35k, of course it is necessary to look at how the growth of the price will be, and what will be the structure of expansion to the zone of 31500-32300. The closest support zones that can be highlighted on the chart are 30000 and 28300, holding these zones is important for continued growth.
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The price went down to the area of the last year's prorogation, where the upper border is in the range of 32200-32300, but there were no large volumes at these prices, either on the volume profile or on the cluster volumes, so we can assume the following scenario, the first target where the price is headed is 31500-32300 zone, And if the price latch on to that zone, there is a chance of a very fast growth to the level of 36k, with intermediate objectives of 34 and 35k, of course it is necessary to look at how the growth of the price will be, and what will be the structure of expansion to the zone of 31500-32300. The closest support zones that can be highlighted on the chart are 30000 and 28300, holding these zones is important for continued growth.
Support for the author subscription ✅ and rocket start 🚀.
Good luck and profit to all.
