BitcoinLong
Bitcoin Relative to Trend & CPI/PPI Results
Broader markets have responded to the continuation of loose monetary policy, while the Fed will be faced with spiking prices as CPI & PPI results post within 24 hours each the next two months and the FOMC has to decide whether the current approach remains viable as midterm elections approach.
BTC will likely reverse bearish trend for next month or two as it follows the broader markets, then falling back into bearish drawdown as the Fed is forced to tighten monetary policy or risk runaway inflation.
Status quo in the markets until post midterm elections are complete is unlikely given unsustainable spikes in commodities and further increased wage pressures.
Housing sales continue to decline as a reference, the near-term reprieve from bearish continuation will offer some opportunities but likely will not be sustained come summertime.
BTC will likely reverse bearish trend for next month or two as it follows the broader markets, then falling back into bearish drawdown as the Fed is forced to tighten monetary policy or risk runaway inflation.
Status quo in the markets until post midterm elections are complete is unlikely given unsustainable spikes in commodities and further increased wage pressures.
Housing sales continue to decline as a reference, the near-term reprieve from bearish continuation will offer some opportunities but likely will not be sustained come summertime.
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