US30 | BTC | Analysis and EFT Update | Indices | Crypto
The US30 is today’s chart of focus, as we are seeing a similar situation to what we discussed in yesterday’s Ethereum update. Ethereum was one of the better-performing majors after the news hit yesterday.
Today’s focus: US30
Pattern – Consolidation / Ascending Triangle Pattern
Support – 37,400
Resistance – 37,770
The US30 sits in a continuation pattern that’s inside a consolidation pattern. Buyer momentum remains firm today after yesterday’s rally, and we are looking at tonight’s CPI data. If CPI remains unchanged or surprises the downside, we will look for further upside on the US30. If it comes in hotter than expected, this could turn the price lower from resistance or above, depending on where the price is later tonight.
Crypto had a mainly higher but, in some cases, muted response to news that BTC ETFs will become a reality. We have run over some of the news and moves since yesterday.
US CPI data is due at 12:30 am ADET, Friday (1.30 pm GMT, Thursday).
Good trading.
Crypto | Indices | US30 | BTCUSD | Bitcoin | ETF | Trading | Price Action | Technical Analysis | Trend Analysis | Chart Patterns | Technical Indicators | Continuation Patterns
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