Bitcoin (BTC/USDT) Eyeing a Bullish Reversal from Key Support

hello guys!

Trading Plan:

If Bitcoin finds support around $96,000 and shows bullish momentum, it could rally toward the $98,600 resistance.

A breakdown below $95,000 could invalidate this bullish setup, leading to further downside potential.

Note

Since the actual Core CPI will be released in two hours, we can estimate its potential outcome based on recent trends, market expectations, and economic conditions.

Estimate for Core CPI (January 2025):

Previous Core CPI: 0.2%
Forecasted Core CPI: 0.3%
Recent CPI Trend: Headline CPI has been rising, with shelter and energy prices showing continued upward momentum.
Market Sentiment: Treasury yields are consolidating above 4.5%, indicating expectations of persistent inflation pressures.
Given the rising shelter costs and strong labor market conditions, the actual Core CPI may come in at 0.3% or slightly higher (0.3%-0.4%). If it exceeds 0.3%, it could be bullish for the USD, as it would suggest stickier inflation and reduce expectations for early Fed rate cuts.

Note

hat means For a few minutes, everything against the USD is expected to turn bearish as markets react to the higher-than-expected CPI data.

Note

the CPI index released 0.4% and it was higher than the forecast index so caused 30 mins strength of USD

Trade closed: stop reached

however the pointed area touched but before that our stoploss hit!

melikatrader94

👉 My recommended broker: bit.ly/HYMCMELI
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