Bullish Rise

Key Levels:
Resistance: 24315
Pivot: 22430
Support: 20705

Preferred Case:
On the H4, with price moving within a bullish channel and expected to bounce off the stochastic support, we have a bullish bias that price will rise from our pivot at 22430 where the pullback support, 61.8% fibonacci retracement and 78.6% fibonacci projection are to the 1st resistance at 24315 where the swing high resistance and 61.8% fibonacci projection are.

Alternative Scenario:
Alternatively, price could break pivot structure and drop to 1st support at 20705 where the swing low support, -61.8% fibonacci expansion and 100% fibonacci projection are.

As investors are looking to reduce risk ahead of the CPI report, we have a bearish view on Bitcoin . We'll need to exercise caution for this setup because our fundamentals and technicals are not completely aligned.