Bitcoin (BTC), which retreated after trying the $30,000 threshold the other day, is cautious before the US inflation data.
Following a course in parallel with the activity in the global markets, Bitcoin has not yet finished the uncertainty phase. Although the BTC price exceeded $ 30 thousand the other day, this was short-lived. BTC started to pull back after trying to $ 30 thousand. At the beginning of the day, it is seen that BTC is moving at the level of 29.5 thousand dollars.
As of 15:30 on August 10, US inflation data will be released to global markets. Before these data, the cautious wait continues on the BTC side. However, it is expected that BTC will gain volatility during the day and meet the data. So what price levels for BTC stand out on this critical day?
Bitcoin (BTC) technical analysis
Moving fast with the effect of PayPal news feed, Bitcoin (BTC) tried 30 thousand dollars for two days in a row. However, BTC could not sustain above $ 30 thousand in both days. We have US inflation data for BTC, which spent the day at $ 29.5 thousand. In the light of this data, it is likely that the activity on the BTC side will increase.
In the past days, BTC could not handle the selling pressure at $ 30,250. The resistance and increased selling in this region led to BTC’s pullback. Although the leading cryptocurrency tested $ 30,160 the next day, it could not sustain in this region. When we come to the third of the active days, it is seen that BTC is following a cautious chart.
The weakening of BTC and the compression of inflation data could accelerate the pullback. Although the $29,500 level is the support zone for BTC, it is worth remembering that this area is in close contact. After possible inflation volatility, $29,070 can be seen on the BTC side.
If the US inflation data is positive, BTC may want to test the $ 30,250 level again. If persistence in this region is maintained, the next target for BTC could be around $31,100. However, as it is a data day where volatility can occur, it would not be surprising if BTC exhibits instant activity.
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