Wrapped bitcoin analysis. Pause before $30500

Bitcoin has not been much affected by U.S. inflation data. Prices have been in a sideways correction for several weeks now. A retest of the support level would technically be a buying opportunity.
Wrapped Bitcoin (WBTC) has been developing a corrective phase against the US dollar since April 14. To date, the move has developed through an initial pullback of -13.03% to the relative lows of April 24 and subsequently led to non-directional fluctuations, characterized by recurring trend changes, between 26987 and 30004.
It was expected that something would change with today's session in the significant lull that the cryptocurrency market as a whole has been experiencing since mid-April. In fact, U.S. inflation data was released today, which most traders were looking forward to. Potential buyers are keeping an eye on the Fed's monetary policy actions.
As for today's expected data, we can only note that so far it has only led to a slight pullback in the most capitalized cryptocurrencies, which even wrapped bitcoin has not escaped.
As of 7:45 p.m. Wednesday, May 10, WBTC is trading at 27,376 on the world's leading exchanges, down slightly from yesterday (-0.99%).
Wrapped Bitcoin's long timeframe shows that the main support area, as far as May is concerned, is now located at a very significant trend line passing through the $25150 line. This is the same level where the May 2022 lows were reached and which then acted as resistance twice (in August '22 and February '23), preventing a bullish market move.
The level of 25150 has only been broken upwards since mid-March. The biggest risk Wrapped Bitcoin now faces is the formation of a pullback towards the level itself to test it again as support.
The 30-minute histogram confirms a bullish signal that is still in force. We can see that prices are just now questioning the hold of the old nearest support level, which was located at 27700/28140. The nearest support level is now up to 26630/870, and the major level has risen to 25600/25830 since the last decade of April.
Both levels will be the likely place for the market to react if further strengthening occurs over the next 5-10 days. The outlook is for a resumption of the uptrend, probably starting next week, towards the first target at 30500/510. The main target should be raised to 31800/32100. The described scenario will only be cancelled if the level of 25600 is broken.