Bitcoin's Price Action Today: Potential Reversal Zones and Volatility Ahead
Hey everyone, I'm back with my analysis of Bitcoin's price action for today. Right now, the price sits around $41,800. If it falls further with momentum, we could see it dip to the $41,150-$40,950 range (-2 and -2.5 standard deviations). This zone might be a potential support area, reversing the price and pushing it back up.
However, if this support fails, expect a further drop to the SD level 4, roughly $40,600-$40,350. Additionally, yesterday's low was around $40,220, and if the price reaches SD level 4, there's a possibility it might sweep the sell-side liquidity at this level.
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Today's important events include the core CPI report and the 30-year bond auction, likely leading to significant volatility around these times.
These are my thoughts on Bitcoin's price action for today. Hopefully, you find it helpful! If you'd like me to post more crypto market updates, leave a comment below and I'll be happy to! See you in the next update.
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Disclaimer:
This post is for informational purposes only and should not be construed as financial advice. Please conduct your own research and consult with a financial professional before making any investment decisions. The author is not responsible for any losses or damages incurred as a result of information provided in this post.