2024-6-12 22:30 |
Bitcoin (BTC) touched its minimum bullish target of $70,100 before facing rejection. Amidst the uncertainty surrounding the upcoming release of Consumer Price Index (CPI), inflation rates, and the Federal Open Market Committee (FOMC) decision, the market is bracing for potential volatility.
The overall market sentiment appears to be driving Bitcoin’s price movements as traders anticipate these critical economic events.
Bitcoin (BTC) Price AnalysisAccording to the crypto analyst @WiseAnalyze, Bitcoin’s recent decline cannot be attributed to any key movements in stock indices or the Dollar Index. Instead, it appears to be a reaction to the uncertainty surrounding the upcoming economic data releases and the FOMC decision. Consequently, market participants are de-risking in anticipation of potential bearish moves, causing Bitcoin’s price to correct.
The analyst highlights several liquidity pools that could serve as potential support levels for Bitcoin. If the downward trend continues, the nearest liquidity pools are located at $66,155, $65,830, and $64,600. However, a bounce could occur around these levels, but there is no confirmation yet.
Additionally, the 20-month simple moving average (SMA) around $63,080 correlates with May’s Point of Control (POC), suggesting Bitcoin could potentially reach that level within the next week or two if the correction deepens.
With the CPI, inflation rates, and FOMC decision scheduled for Wednesday, June 12th, the analyst warns of increased volatility in the cryptocurrency market. The analyst advises to prepare for potential price swings as the market reacts to these crucial economic events.
.rh-colortitlebox{margin-bottom:30px;background:#fff;line-height:24px;font-size:90%}.rh-colortitlebox .rh-colortitle-inbox{display:flex;align-content:center;padding:15px;font-weight:700;font-size:110%; line-height:25px}.rh-colortitlebox .rh-colortitle-inbox i{line-height:25px; margin:0 10px; font-size:23px}.rh-colortitlebox .rh-colortitle-inbox svg{width:25px;margin-right:10px}.rh-colortitlebox .rh-colortitle-inbox-label{flex-grow:1}.rh-colortitlebox .rh-colortitlebox-text{padding:20px}.rh-colortitlebox-text>*{margin-bottom:20px}.rh-colortitlebox-text>:last-child{margin-bottom:0} New Meme Coin to Watch Aiming to be Next $BONK, $WIF or $MEW.rh-toggler-open{height:auto !important} .rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important} .rh-toggler-open .rh-tgl-hide{display:block !important} .rh-tgl-show, .rh-tgl-hide{cursor:pointer} .rh-contenttoggler *{box-sizing: border-box !important} .rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;} .rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}Milei Moneda is a new meme coin inspired by the political and economic views of Javier Milei, an Argentine president known for his libertarian and pro-Bitcoin stance. You have an opportunity with the ongoing low presale price to get in early!
Sponsored
Show more +Show less –Read also: Here’s Why JasmyCoin (JASMY) and Notcoin (NOT) Prices Are Down
Key Levels and TrendsThe analyst also provides several key levels and trend indicators for Bitcoin. The nearest liquidity pools above the current price are located at $70,460, $72,370, and $74,100, while the levels below are at $66,430, $65,600, and $64,233. Additionally, the analyst notes the trend direction across different timeframes, with a downward trend on the daily (D), weekly (W), and monthly (M) charts.
Join Aethir’s exclusive airdrop and earn badges by participating in events or holding community tokens. Complete tasks and secure your spot before the snapshot date is revealed!
Check $RECQ Meme Coin Sponsored: Invest Responsibly, Do Your Own Research. Buy RECQ Today Serves as the base currency for all transactions within the Rebel Satoshi platformICO stage, offering tokens at a discounted price
Facilitates a smooth and efficient economy within the arcade, supporting both arcade and in-game transactions.
Grants access to a diverse range of gaming experiences in the Rebel Satoshi Arcade,
Contributes to a decentralized, community-driven RebelSatoshi platform that integrates gaming with elements of revolution, freedom, and unity, appealing to users who value such principles.
The post Bitcoin Price Analysis: BTC Braces for CPI as Economic Data Looms – Key Levels and Trends to Watch appeared first on CaptainAltcoin.
Similar to Notcoin - Blum - Airdrops In 2024
Market.space (MASP) на Currencies.ru
|
