BITCOIN AND THE US DOLLAR
Bitcoin price has been stuck in a range for some weeks. Buyers are failing to push prices above the price resistance of $20400. The major support/demand level has been a zone where buyers tend to fill their orders and push back upwards.
Bitcoin price data has also been impacted fundamentally due to economical factors from the United States(Inflation and Interest rates).
Thursday 13th, we all saw some huge bullish gains in bitcoin after the release of the CPI Inflation data, there was some increase in the released data. This increase will prompt the FED to increase interest rates in their next upcoming FOMC meeting in the coming months. If the FED should increase rates this could impact the price of Bitcoin negatively and we could see some declines.
Bitcoin price data has also been impacted fundamentally due to economical factors from the United States(Inflation and Interest rates).
Thursday 13th, we all saw some huge bullish gains in bitcoin after the release of the CPI Inflation data, there was some increase in the released data. This increase will prompt the FED to increase interest rates in their next upcoming FOMC meeting in the coming months. If the FED should increase rates this could impact the price of Bitcoin negatively and we could see some declines.
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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.
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.