Upcoming catalysts could shape market trends. Nvidia’s earnings tomorrow, along with key economic data in March including the Employment Report (March 7) and CPI (March 12) will be critical. If the data disappoints, the market downturn could intensify.
The stock market saw a sharp decline today after CPI data revealed a 3.0% YoY rise in January, exceeding forecasts of 2.9%. This unexpected inflation spike has raised doubts about the Fed’s anticipated rate cuts, leading investors to fear potential delays or policy shifts. The growing concern is Stagflation — stagnant growth combined with persistent inflation — which could further destabilize markets and complicate economic recovery efforts.
Investor sentiment remains cautious as uncertainty looms.
Yesterday’s analysis played out perfectly, with price action following our expected moves with 100% accuracy. Here's the latest update based on today’s chart and previous data.
Bitcoin continued its bearish momentum, breaking below the $93,300 critical support zone and reaching the $91,000 region, aligning with the local liquidity zone we highlighted. The price is now hovering around $91,200, showing signs of bearish pressure but also nearing a potential bounce area.
**Current Price Action:** - BTC dipped into the $91,000 liquidity zone, with minor wicks below, indicating some buying interest. - The $89,200 level remains the next key liquidity zone if the current level fails to hold. - The $85,500 demand zone, aligned with the EMA 200 and Fair Value Gap (FVG), remains a strong area for potential reversal if the decline deepens.
📉 Indicators Insight: **MACD** remains bearish with widening histogram bars, signaling strong downside momentum. **RSI** has dropped further to 33.4, nearing oversold conditions.
💡Scenarios to Watch: **Bullish Bounce** A bounce from the $91,000 – $89,200 zone could push BTC back toward the $93,300 resistance and potentially $96,400 if momentum picks up.
**Bearish Breakdown** Losing $89,200 support could drive BTC towards $85,500, where major liquidity and the EMA 200 converge.
📊Key Levels to Watch: **Resistance** $93,300 → $96,400 → $99,500
**Support** $91,000 → $89,200 → $85,500
The market remains bearish but is approaching zones where a bounce could occur. Monitor volume and RSI behavior closely for signs of reversal or further decline.
One more short-term scenario to consider—keeping in mind the current market situation, we can’t rely solely on patterns. The triangle broke down, indicating bearish momentum, but if the retest holds and price reclaims 95K 💸, a short-term bounce could unfold. Otherwise, the 90.5K target stays in play.
Keeping in mind our previous analysis, this is the next update based on the current price action.
Bitcoin continues its corrective phase, facing rejection near the $99,500 zone, which aligns with the upper boundary of the CME gap and a key resistance level. The price has now dipped towards $94,000, an area of local liquidity and a crucial support zone, as previously highlighted.
🔑 Immediate Support: The $94,000 – $93,300 range remains pivotal. If bulls defend this area, a potential short-term bounce could target the $96,400 level (near the EMA 100) and the lower boundary of the CME gap.
⚠️ Breakdown Scenario: A failure to hold $93,300 could accelerate the decline toward deeper liquidity zones at $91,500 and $89,200, with the $85,500 area as a major demand zone, also aligned with the EMA 200 and a Fair Value Gap (FVG).
📉 Indicators Insight: **MACD** remains bearish, showing weak momentum and no bullish crossover in sight. **RSI** is hovering around 39, indicating bearish pressure.
💡 Market Sentiment: Market sentiment remains cautious amid ongoing bearish pressure. A decisive break below $93,300 could open the path to lower liquidity zones, while a bounce from current levels might revisit the 96K region.📊