Bitcoin CPI Highs See Warnings Of Bull Trap Next

Bitcoin CPI Highs See Warnings Of Bull Trap Next
Bitcoin CPI Highs See Warnings Of Bull Trap Next

Main points:

  • Bitcoin is approaching above three weeks as CPI data match expectations.

  • Many market participants believe that Bitcoin is heading to the highest as Aresult, perhaps after a late trap.

  • CPI BTC Pareouts has seen in recent months.

Bitcoin (BTC) witnessed Telltale fluctuations in Wall Street on Thursday, with American macro data reinforced the possibilities of reducing the interest rate.

BTC/USD scheme for one hour. Source: CointeleGRAPH/TradingView

Cpi Bullseye sees invitations to Bitcoin “higher”

Data from Cointelegraph Markets Pro and Tradingvief BTC/USD showed $ 114,731.

August printing the US Consumer Prices Index (CPIIt came as expected, and the noticeable cooling of the product price index (PPI) in the previous day.

United States CPI 12 months change %. Source: American Labor Statistics Office

While CPI was at its highest level since January, the main number instead was the initial unemployment claims, which witnessed its largest numbers since October 2021 at 263,000 compared to 235,000 expected.

Amid continuous concerns about the weakness of the labor market, stakes to reduce federal reserve rates are strengthened at its meeting on September 17 only after the issuance of the consumer price index, with markets even See a 11 % opportunity From the pieces it takes more than the minimum 0.25 %.

“The markets are now pricing 75 basis points of price discounts by the end of the year,” Kobeissi’s trading supplier male On the topic of follow -up on X.

“Although the consumer price index enlarges the rise, the labor market is simply very weak to ignore. Next week it will be a big week.”

The risk of average average in the Federal Reserve (screen shot). Source: Fedwatch Group CME

Crypto commentators saw the case for higher prices in the next, as Bitcoin has passed $ 114,500 for the first time since August 24.

“Product price index is much lower than expected, consumer price index as expected,” popular trader generation Respond In the X.

“Conclusion: inflation is not as bad as expected – the rate later brought this month. The news is now behind us, it’s time to resume the scheduled program: higher.”

BTC price risks to repeat US inflation data trap

BTC price expectations also stressed the importance of interrogating recent support.

Related to: Bitcoin can reach 160 thousand dollars in October, where Macd Golden Cross revenues

For trader trader bitbull colleagues, flipping was $ 113,500 of support resistance is the low main frame event, which opened the door to a match with its highest levels ever.

Nevertheless, some views witnessed a new re -test before returning to the discovery of prices.

Trader SKEW argued that the market will try to trap and liquidate the phase that entered the CPI version.

“Another filter before the top”, part of the x post ProposalNoting 2000 BTC of liquidity that appears on exchange requests.

BTC/USDT liquidity data. Source: deviation/x

The Crypto investor and businessman TED BIDOWS went further, indicating that BTC/USD will copy the behavior of the former consumer price index for the first rise and then fresh deterioration.

“In the last 3 versions of the consumer price index, Bitcoin gathered before the CPI data and it is immediately after the data is released,” Note In addition to an illustrative scheme.

“This time, BTC rose before the release of CPI data today, which means that the emptying can happen.”

BTC/USDC Planner for one day. Source: Ted Al -Wasayd/X

This article does not contain investment advice or recommendations. Each step includes investment and risk trading, and readers must conduct their own research when making a decision.

The post Bitcoin CPI Highs See Warnings Of Bull Trap Next first appeared on Investorempires.com.