Dear Readers,

This has further in reference with our last BTC updates, post CPI data, the market witnessed an overall pump in the crypto markets. 

At the time of writing this article, the global crypto market is up by 0.28% from the last 24 hours and currently stands at 1.2T USD. 

BTC also witnessed a move in the higher side and currently after some profit booking it consolidates a bit.

At this point, BTC trades at $ 24600 levels, 0.28% higher in the 24 hours and 12.77% higher in the 1 week. 

In the past three months alone BTC fetched 47% returns to the investors. 

The million dollar question is with the current trend- Will BTC go up or down?

For this we need to understand the BTC trend chart and the technical charts as well. 

While we understand the technical parameters in the weekly chart, for confirmation we need to look at the daily chart. 

We may also take the important data announcements to be taken into account. This week, we will have the FOMC minutes on Feb 22 and GDP, Initial Jobless Claims to be announced on the next day ( Feb 23). 

The overall scenario for BTC is if it holds 24K stronger with volumes, it may continue to go higher. But if it breaks, it may go down to USD 23K-21K levels. 

In my understanding and analysis, there are more chances that BTC would come down before the sharp move upside. 

The likelihood of going up from $ 23K is one possibility. The next one is it may reach out to $21K.

My suggestion is that don't get any entry at the current level. Once it shows the technical break out, you can do the entry. 

But if we analyse, the BTC trend pattern, the more chances for a high pump in the coming days. 

For any scalp trade, you can do it to make quick profits according to the movements and market conditions. 

Please do your own analysis and get the tr

Wishes for a Happy Trading!