Just Released: Key U.S. Inflation Data:
Core CPI m/m: 0.1% (vs. 0.3% forecast)
CPI m/m: 0.1% (vs. 0.2% forecast)
CPI y/y: 2.4% (vs. 2.5% forecast)
Market Reaction & Outlook:
The softer-than-expected inflation figures suggest easing price pressures in the U.S. economy — a potential bullish signal for risk assets, such as Bitcoin(
BTCUSDT).
-----------------------------
Now let's take a look at the Bitcoin chart on the 1-hour time frame.
Bitcoin is trading in the upper part of a Heavy Resistance zone($104,380-$103,670) and is trying to break through this zone. The announcement of US indexes could be a trigger for a breakout of this zone.
In terms of Elliott Wave theory, Bitcoin appears to be completing microwave 4 of the main wave 3. The structure of microwave 4 is a Double Three Correction(WXY).
I expect Bitcoin to start rising from the Potential Reversal Zone(PRZ)[$108,680-$107,840]and near the Support line again and rise to at least $110,670 and if the Heavy Resistance zone($104,380-$103,670) is broken we should expect new ATHs in the coming days.
Note: If Bitcoin falls below $105,700(Worst Stop Loss(SL)), we should expect further declines.
If you want to know my weekly analysis about BTC, I suggest you check out the following idea:
Please respect each other's ideas and express them politely if you agree or disagree.
Bitcoin Analyze (BTCUSDT), 1-hour time frame.
Be sure to follow the updated ideas.
Do not forget to put a Stop loss for your positions (For every position you want to open).
Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Core CPI m/m: 0.1% (vs. 0.3% forecast)
CPI m/m: 0.1% (vs. 0.2% forecast)
CPI y/y: 2.4% (vs. 2.5% forecast)
Market Reaction & Outlook:
The softer-than-expected inflation figures suggest easing price pressures in the U.S. economy — a potential bullish signal for risk assets, such as Bitcoin(
BTCUSDT).-----------------------------
Now let's take a look at the Bitcoin chart on the 1-hour time frame.
Bitcoin is trading in the upper part of a Heavy Resistance zone($104,380-$103,670) and is trying to break through this zone. The announcement of US indexes could be a trigger for a breakout of this zone.
In terms of Elliott Wave theory, Bitcoin appears to be completing microwave 4 of the main wave 3. The structure of microwave 4 is a Double Three Correction(WXY).
I expect Bitcoin to start rising from the Potential Reversal Zone(PRZ)[$108,680-$107,840]and near the Support line again and rise to at least $110,670 and if the Heavy Resistance zone($104,380-$103,670) is broken we should expect new ATHs in the coming days.
- Cumulative Long Liquidation Leverage: $108,791-$107,887
- Cumulative Long Liquidation Leverage: $106,840-$105,457
- Cumulative Short Liquidation Leverage: $111,381-$110,568
Note: If Bitcoin falls below $105,700(Worst Stop Loss(SL)), we should expect further declines.
If you want to know my weekly analysis about BTC, I suggest you check out the following idea:
Please respect each other's ideas and express them politely if you agree or disagree.
Bitcoin Analyze (BTCUSDT), 1-hour time frame.
Be sure to follow the updated ideas.
Do not forget to put a Stop loss for your positions (For every position you want to open).
Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Note
Short Position = Target Done
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Disclaimer
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🎁Welcome than a 50% bonus(Low Spread)👉vtm.pro/Y3AV7r
🎁Get a 20% Discount on your trading FEE on BYBIT:👉partner.bybit.com/b/PEJMANZWIN
🎁Get a 20% Bonus & 30% Discount on LBANK exchange(NO KYC)👉lbank.one/join/uBythQd
🎁Get a 20% Discount on your trading FEE on BYBIT:👉partner.bybit.com/b/PEJMANZWIN
🎁Get a 20% Bonus & 30% Discount on LBANK exchange(NO KYC)👉lbank.one/join/uBythQd
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.