BitcoinPanjang
Will Today's CPI Report Ease Crypto Pressure Post-Debate?
Macro theme:
- Fears of a global recession are weighing on Bitcoin as a risky asset, though the US economy remains on track for steady growth.
- Investor engagement with exchanges has decreased, with lower trading volumes reflecting reduced interest.
- Bitcoin's recent gains were impacted following the first debate between Donald Trump and Kamala Harris, with odds favouring Harris.
- All eyes are now on today's CPI data; if inflation falls as expected, a short squeeze could ease the recent price pressure.
Technical theme:
- From a 4-hour chart perspective, BTCUSD is hovering around EMA21, indicating that the sideways mode persists. EMA21 has not crossed up EMA78 yet to create a complete shift of the current sideways structure despite that BTCUSD broke its previous descending channel.
- If BTCUSD extends its gain beyond 58200, the price may continue to reach the psychology level 60000.
- On the contrary, if BTCUSD breaks below 55660, the price may retest the 54600.
- Fears of a global recession are weighing on Bitcoin as a risky asset, though the US economy remains on track for steady growth.
- Investor engagement with exchanges has decreased, with lower trading volumes reflecting reduced interest.
- Bitcoin's recent gains were impacted following the first debate between Donald Trump and Kamala Harris, with odds favouring Harris.
- All eyes are now on today's CPI data; if inflation falls as expected, a short squeeze could ease the recent price pressure.
Technical theme:
- From a 4-hour chart perspective, BTCUSD is hovering around EMA21, indicating that the sideways mode persists. EMA21 has not crossed up EMA78 yet to create a complete shift of the current sideways structure despite that BTCUSD broke its previous descending channel.
- If BTCUSD extends its gain beyond 58200, the price may continue to reach the psychology level 60000.
- On the contrary, if BTCUSD breaks below 55660, the price may retest the 54600.
I’ve taken a break from my public community engagements to focus on raising my three kids, but I'm rediscovering my passion for working again. Stay connected, as I plan to return and rejoin my old communities with a lot of new skills one day soon.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
I’ve taken a break from my public community engagements to focus on raising my three kids, but I'm rediscovering my passion for working again. Stay connected, as I plan to return and rejoin my old communities with a lot of new skills one day soon.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.