CPI YoY:
PREVIOUS: 3.2%
FORECAST: 3.4%
ACTUAL: ???
BTC going into CPI today is sat exactly at the '21 ATH. With the forecast prediction an increase of 0.2% this increase should be priced in by now.
Usually we have a gradual rally up until the announcement, then the initial direction of the move is the wrong move with the true direction coming after. That's how CPI plays out generally if there is a reaction to the news, sometimes it's a non-event and price stays as it is.
I would like to see BTC bounce between '21 ATH and local high with a strong breakthrough going into the halving/ post halving which is less that 10 days now!.
So far the 4H 200EMA has provided support reliably, if we lose that level the next logical place for price to find support is at the wick fill area at 59K which marks the local range low. These are the two situations
PREVIOUS: 3.2%
FORECAST: 3.4%
ACTUAL: ???
BTC going into CPI today is sat exactly at the '21 ATH. With the forecast prediction an increase of 0.2% this increase should be priced in by now.
Usually we have a gradual rally up until the announcement, then the initial direction of the move is the wrong move with the true direction coming after. That's how CPI plays out generally if there is a reaction to the news, sometimes it's a non-event and price stays as it is.
I would like to see BTC bounce between '21 ATH and local high with a strong breakthrough going into the halving/ post halving which is less that 10 days now!.
So far the 4H 200EMA has provided support reliably, if we lose that level the next logical place for price to find support is at the wick fill area at 59K which marks the local range low. These are the two situations
Comment:
Following the bearish path perfectly so far, could we see a sweep of the demand zone at 59K?
Comment:
So far it looks like the demand zone has been narrowly front run as we bounce off of range low. BTC is now working its way back up toward the range midpoint which is exactly where the 4H 200EMA is currently at, big resistance area.
The halving is now less than 24 hours away and although we shouldn't expect a pump on the news of the halving it is bullish overall in the long term.
For now the Midpoint#4H 200EMA is the target the bulls should aim for short term. The bears are still targeting the sub 59K demand zone.
The halving is now less than 24 hours away and although we shouldn't expect a pump on the news of the halving it is bullish overall in the long term.
For now the Midpoint#4H 200EMA is the target the bulls should aim for short term. The bears are still targeting the sub 59K demand zone.
Comment:
Back at range Midpoint, and the 4H 200EMA. A strong reclaim would then target '21 ATH and give alts a green light to continue the move up.
Higher than forecast, expect volatility