BTCUSD hitting key resistance levels 18500 - Next 21000 or 13000

Bitcoin is hammering against key resistance levels at 18500.. Downward channel (white) and horizontal red line.. Breakout from the channel and resistance line will push BTCUSD towards 21000 target close to 200 EMA and previous pivot high.. Failure to breakout will pullback the price towards 13000 hitting the lower end of the white channel.

Lot of the price action is dependent on the December CPI numbers tomorrow.. Investors are positioning for lower CPI numbers which would slow down Fed interest rates hikes.. But any negative CPI numbers news will pullback all the recent gains.

Let me know your thoughts in comments section.

Comment:

Momentum is still upwards.. I believe BTCUSD is heading towards 21000 target soon.

Trade closed: target reached:

21000 target reached today. It hit the previous pivot high and 200 EMA around 21300 and pulled back. If the momentum continues next target would be 22750, 25000.. Failure to carry momentum will pull back to 18500 support level.

Comment:

22750 target achieved on 20th Jan.. If it consolidates at this level for few more days, next 25000 target..