📈📊 BITCOIN: Good CPI 🏦 Will Take Us Higher 🚀

The upcoming release of the Consumer Price Index (CPI) report, anticipated to show an easing of inflationary pressures, is projected to have a positive impact on Bitcoin prices. Traditionally, Bitcoin, a popular hedge against inflation, tends to respond inversely to inflation rates. However, in a market that thrives on stability, lower inflation signals a healthier economic landscape, potentially encouraging more investors to engage with the cryptocurrency market. Therefore, a favorable CPI report could stimulate Bitcoin's bullish trajectory, drawing in new market participants and possibly leading to higher price levels.

Higher inflation?
Bitcoin likely to go higher, as per usual!

Lower Inflation?
Feds don't need to hike which makes indices go higher and Bitcoin with Alts follow

Bad scenario?
High inflation at this stage can spook the markets and maybe Bitcoin

Conclusion?
I don't know about yours, mine is to stay Long.

One Love,

the FXPROFESSOR

Comment:

no rate hike but the Feds say they might hike again later....

no hike sounds like bullish news in my ears since inflation is lower! I remain Long

Comment:

25150-25200 is now again support.. You can delay us but you can not stop us... Professor is Long

FEDS and their awkward 'talking' pushed the price lower despite the no hike and lower inflation!
We have seen funny things before and we will see again in the future many times and now let's see the price go to 26100 (previous support and now resistance on this chart) and break it higher.