#Bitcoin gained Bullish move after the #CPI data and break above the small Consolidation range. Price nearly tested out the previous range as resistance, can move slightly higher. Looking onto the daily TF, its more kinda retracement, which might finished

#BTC stayed inside the the major resistance area, making small moves down. Price did tried to breakout of the zone of with the #CPI news, eventually Rejected. Currently, nothing to do here about, until price decides to breakout of the major level or if price breaks below $29,600 then we've clean candles to move lower.

#CPI Numbers Coming Today, High Volatility Expected 📊

All the timing are in EST

#Bitcoin jumped yesterday, due to #CPI Data out but made a immediate correction in move back to lower support zones around $26,900 - $27,000. Price Rejected sharply and kinda consolidation now. Overall, is a no trade range, so better wait for the market to clear the direction.

#Bitcoin tried to jumped after the #CPI news and but data was mixed to anticipate. Now price is very corrective and we've some bunch of high volatile news coming along. We can expect heavy breakout either side this week with the news, so keep and eye on it.

What is #CPI ?

A Consumer Price Index (or CPI) is a type of index: a basket of assets whose price is tracked to gain insights into market segments. Examples of indices include the S&P 500, the NASDAQ Composite, and the DJIA (all of which measure the performance of the major stocks).
There’s no single CPI – the term refers to any type of index designed to track the prices of consumer goods, services, and household products. Suppose that we have a basket made up of the following expenses: groceries, hygiene products, travel costs, rent, etc. Basically, we can do this with anything you’d expect the average consumer to spend on.

We’ll note down the total cost of the items in that basket, typically using weighted averages to give more “weight” to more important items. Then we’ll note the year/month/period, too. By doing this at set intervals, we can get an idea of how the index is performing over time.



Why is CPI used?

A Consumer Price Index is a powerful benchmark for measuring developments in the economy. Specifically, it’s used to monitor the impact of inflation or deflation. This is useful for many reasons – governments can gain insights into their monetary policy decisions and calculate how much should be given to those with subsidized incomes.

#BTC made its break of the range and made it retest back to the mentioned area at minor support around $48,500. Price dropped due to #CPI data release, now it made a bounce from the trendline line still maintaining the Bullish Structure. Expected a new high to print as no clear indication for a down-move.

#BTC strongly Dropped with the #CPI Data Release 📉

#BTC dropped with the #CPI Data Release and strong climbed up again. Price still moving back and forth, with that Daily TF, made a fakeout to the down side (Close below and Close Above). Anticipating, a retest of the zone and push in the market.

#CPI Data is Out, an with a jump in #bitcoin too.

#BTC made its way very clear and directly into the $100,000 level with the #CPI news yesterday. Price now have a small retracements and need to see some sort of price movement. Price might start move higher from here and NY open come up with retracement.

#BTC dropped strongly with the #CPI news yesterday and now its again dropping. Price still stuck in a range and we can see $92,000 area again.

More than $1T also wiped out of the Global market yesterday and We have #CPI tomorrow, lets see how it goes.

#BTC didn't moved alot with the #CPI news, it just a short-term movement happened and gone into sideways. Price actions short bearishness and structure too. Lets see how the market performs with the further candle prints.

#CPI data is out and lower than expected

Good News for the market.

Let's see how further market behaves

#BITCOIN DAILY TF UPDATE:

#BITCOIN has gone sideways for almost a week now and hasn't moved yet. It is still trading inside the large consolidation, and bearishness remains intact. Next week, you can expect further lower moves. Additionally, next week brings some strong moves driven by news, including #FOMC and #CPI. So, be alert with opening positions.

#BTC is again forming the Wedge pattern and, after the breakout, moving lower very correctively. We have #CPI at the end of the week, so we can expect a strong move at the end of the week.

#BTC is moving sideways slowly and building liquidity on both sides. With that, price is still over the support now. Nothing much to happen now, just #CPI today. Avoid trading news and let the market decide with a strong breakout and closing of the day.

#BTC made a sharp down move with yesterday's #CPI release. That was a quick dump in the market that took out the liquidity. Now, the market is floating in between and has to wait for the Weekly TF closing.

September #CPI came in above forecasts — headline inflation at 3.7% and core at 2.6% 📉🔴. #BTC dipped within minutes of the release as household inflation expectations climbed to their widest gap over core inflation in three years 💪.

Fed already hiked 25bps on September 16 — #BTC shrugged it off and stood more than 10% higher a week later. Futures traders now raising odds of a second hike at the October 28 meeting with US midterm elections following on November 3 — a critical macro period ahead ⚡️🎯👀