It's CPI day and BTC traders are buckling up for flash volatility.
With liquidity tight around spot price, analysts hoped for a reshuffle upon the release of the June print of the United States Consumer Price Index .
Roughly expected at around 3.2% — the lowest score since March 2021 — CPI should show U.S. inflation continuing to slow down. “The Cleveland Fed, University of Michigan + Truflation all anticipating a similar number,” financial commentator TedtalksmacroTraders acknowledged that flash volatility could prove deceptive, as Bitcoin tends to decide on trajectory somewhat after the data release.
“There's a good chance we see the usual ‘Darth Maul’ candle where both low timeframe highs & lows are taken out shortly after CPI,” Daan Crypto Trades“From there on out the real direction for the day is often chosen which could then target the 31.1K or 30.2K level imo.
"Every time BTC made a monthly close ABOVE the SMA 20 line, it was the ultimate confirmation of a bull run. For the following 2 years it never again went below this line ," he commented, adding that the current situation was"looking good."This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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