🔥 Bitcoin Bearish Break-Out Ahead Of CPI And FED

Last week I made an analysis on BTC and the bullish channel it was trading in. My expectation was that the channel would hold. First target reached, congratulations if you took the trade.

As seen on the chart, BTC has broken on the bearish side of the channel, making way for potentially more selling pressure to arise. The $17,300 resistance held strong and has neglected a break out 4 times in a row.

I'm looking for a retest of the $16,750 area in the coming days, potentially $16,000 if the CPI/FED reaction is negative.

High volatility week ahead, be prepared!