Bitcoin Closes Indecisively Amid Market Uncertainty Post-CPI Data
Bitcoin Market Analysis by CryptoWzrd
- Bitcoin's recent daily candle closed in green but remains indecisive, lacking a clear reversal signal.
- Weekly candle also closed without clear direction; market structure remains ambiguous after US CPI data release.
- For a rally continuation, Bitcoin needs to hold above the $110,500 resistance level. Success could target $120,000 and higher.
- If $110,500 is not maintained, a decline targeting the $100,000 support level is expected.
- Altcoins are likely to mirror Bitcoin's price movements over the weekend due to Bitcoin Dominance (BTCD) being neutral.
- The intraday chart shows "choppy" activity, indicating a lack of short-term directional momentum.
- A potential upside move towards the $115,300 resistance is anticipated, with the pivotal target at $120,000.
