The "fresh" CPI US was announced at 3.0%, while the forecast was 3.1%, the previous figure was 3.3%
The data is more than positive, laying a good foundation for the start of the Fed rate cut
Logically, the price of financial assets should rocket upwards, well, at least the SP 500 does)
But unfortunately, the correlation between stocks and
BTC is now the lowest since 2019.
On such positive news, in a strong market,
BTCUSDT price should have soared to $62 thousand, or even $64 thousand
Maybe this will happen with a certain "time lag" according to the blue scenario.
But still, you should keep the red scenario in mind at the same time:
First, another update at least to the $52000-52800 area and "shake out" of the long positions, and only after that the growth trend will begin.
What are your thoughts? Which scenario is more likely now?
The data is more than positive, laying a good foundation for the start of the Fed rate cut
Logically, the price of financial assets should rocket upwards, well, at least the SP 500 does)
But unfortunately, the correlation between stocks and
BTC is now the lowest since 2019.On such positive news, in a strong market,
BTCUSDT price should have soared to $62 thousand, or even $64 thousandMaybe this will happen with a certain "time lag" according to the blue scenario.
But still, you should keep the red scenario in mind at the same time:
First, another update at least to the $52000-52800 area and "shake out" of the long positions, and only after that the growth trend will begin.
What are your thoughts? Which scenario is more likely now?
Note
Rumor has it that Bitcoin will be given the green light in China in 4Q2024Here are our thoughts for the BTCUSDT price by the end of 2024
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🎁 -20% on ALL trading fees OKX
okx.com/join/20PSTRADE
🔥V-I-P cutt.ly/PwkLhT56
👍Daily bitcoin reviews here💲 cutt.ly/3wnaaG4s
🔵Telegram t.me/pstrade_eng
okx.com/join/20PSTRADE
🔥V-I-P cutt.ly/PwkLhT56
👍Daily bitcoin reviews here💲 cutt.ly/3wnaaG4s
🔵Telegram t.me/pstrade_eng
Related publications
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.