欧意OKX
类型:金融理财
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版本:V6.52.1
语言:中文
Bitcoin (BTC) is looking for validation above the $60,000 psychological level, renewing investors’ optimism amid positive CPI data. However, a trading expert warns BTC could still face resistance in the low time frame, potentially causing a short-term reversal.
The analyst is CrypNuevo, on X, who has a good reputation with accurate trades and Bitcoin price predictions. According to him, BTC has a key wick in the one-hour time frame, inside of a resistance zone.
If the analysis plays out as expected, the wick could serve as a magnet, attracting liquidity to the upside. In this case, CryptoNuevo expects to see Bitcoin trading at $62,000, creating a bull trap outside of the zone.
Bitcoin (BTC) one-hour price chart. Source: TradingView / CrypNuevo
The United States Core Consumer Price Index (CPI) came within the market’s expectations, while the CPI was, positively, slightly below. In particular, the CPI data shows a year-over-year inflation of 2.9%, which is better than the expected 3.0%. Finbold retrieved the data on August 14, a few minutes after the official release.
Core CPI and CPI data from July, released on August 14. Source: Investing
Investors and analysts are currently interpreting this data with a bullish bias for the next few weeks. This is because the Federal Reserve has deemed CPI, together with unemployment data, as the leading indicators to decide on a possible interest rate cut – which market participants believe will start a bull rally.
Interestingly, unemployment came above expectations for a three-year high at 4.3%, while inflation appears to slow down.
Therefore, the market could expect a positive price action in the following weeks despite this current potential short-term correction. It is important, however, to remain cautious and avoid overexposed positions, as everything can happen with cryptocurrencies.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
