🔥Bitcoin BTC price will depend on the US CPI released today👇
Updated
Today, we will consider what prospects for the movement of the BTCUSDT price and the crypto market, in general, can be expected in the near future.
Let's start with a spoiler: "Today there will be increased volatility in all markets"
Today, on 12.01.23, the US CPI will be announced, which will tell everyone with what level of inflation the US closed 2022.
The last indicator was 7.1%, and the forecast for today is 6.5%.
And although these data are still far from the "ideal" of 2% announced by the Fed, but the dynamics to decrease are present.
The following can be assumed:
1. if annual inflation will be 6.5%-6.4%-... that is, equal to or lower than forecasted, then it is very likely to expect growth in all markets SP 500, cryptocurrency, and others.
2. if they announce 6.6% and higher, it is very likely that the markets will again capture the pessimistic mood
Today's growth of the BTCUSDT price stopped before the high of 14.12.22, probably a certain number of shorts' stops are hidden behind it.
Increased volatility and positive inflation dynamics can easily break these stops and accelerate the price of BTC to $19000. Above is the trend line, breaking through it will mean continued growth to $20,000
If you look globally, then in our opinion, the growth trend is just emerging.
On the other hand, the markets have been in a downtrend for a very long time and new and aggressive buyers are not very noticeable in the markets. Therefore, if "something goes wrong" with inflation, as predicted and expected, asset prices may go again, at least for correction.
The option of a continuation of the BTCUSD price correction in a narrow range until the end of January fits nicely into the fractal price movement that we published and described here:
And already on 01.02.2023, a new FOMC meeting, where the "fresh" Fed rate will be announced
This can push the financial markets in the "right" direction.
We keep our fingers crossed 🤞 that now the growth trend is just emerging and the most interesting is yet to come.
By the way, over the past 2 weeks, the capitalization of the cryptocurrency market has gained "fat" +/-100 billion, more than + 10%, not a bad result, which has not been for a long time.
_____________________
Did you like our analysis? Leave a comment, like, and follow to get more
Let's start with a spoiler: "Today there will be increased volatility in all markets"
Today, on 12.01.23, the US CPI will be announced, which will tell everyone with what level of inflation the US closed 2022.
The last indicator was 7.1%, and the forecast for today is 6.5%.
And although these data are still far from the "ideal" of 2% announced by the Fed, but the dynamics to decrease are present.
The following can be assumed:
1. if annual inflation will be 6.5%-6.4%-... that is, equal to or lower than forecasted, then it is very likely to expect growth in all markets SP 500, cryptocurrency, and others.
2. if they announce 6.6% and higher, it is very likely that the markets will again capture the pessimistic mood
Today's growth of the BTCUSDT price stopped before the high of 14.12.22, probably a certain number of shorts' stops are hidden behind it.
Increased volatility and positive inflation dynamics can easily break these stops and accelerate the price of BTC to $19000. Above is the trend line, breaking through it will mean continued growth to $20,000
If you look globally, then in our opinion, the growth trend is just emerging.
On the other hand, the markets have been in a downtrend for a very long time and new and aggressive buyers are not very noticeable in the markets. Therefore, if "something goes wrong" with inflation, as predicted and expected, asset prices may go again, at least for correction.
The option of a continuation of the BTCUSD price correction in a narrow range until the end of January fits nicely into the fractal price movement that we published and described here:
And already on 01.02.2023, a new FOMC meeting, where the "fresh" Fed rate will be announced
This can push the financial markets in the "right" direction.
We keep our fingers crossed 🤞 that now the growth trend is just emerging and the most interesting is yet to come.
By the way, over the past 2 weeks, the capitalization of the cryptocurrency market has gained "fat" +/-100 billion, more than + 10%, not a bad result, which has not been for a long time.
_____________________
Did you like our analysis? Leave a comment, like, and follow to get more
Note
US CPI - 6.5%, as forecasted.Markets reacted with increased volatility of 2-3% per 10 min, but the news is more positive than negative.
Therefore, in the near future, the movement upwards "in search of" the shorts stops may begin. Growth to $18800-19000 is real, and then the white or blue scenario.
It is also predicted that with a probability of more than 70% in February the FED rate will increase +0.5%, and in March +0.25%.
The dynamics indicate a gradual "recovery" and a decrease in the dose of "medicine"
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