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$BTC Evening View: CPI Data and Key Levels to Watch Tonight! 🚀
Attention, Bitcoin traders! Tonight at 9:30 PM, the CPI data release could shake up the market. Here’s everything you need to know about how this data and upcoming events, like Trump’s power transfer on January 20, could influence BTC’s short-term price trends.
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📊 Key Market Drivers
1️⃣ Tonight's CPI Data:
Positive CPI (lower than expected): Expect BTC to rise.
Negative CPI (higher than expected): Brace for downward pressure.
2️⃣ Trump’s Inauguration on January 20:
If cryptocurrency is mentioned in his speech, it could send a powerful bullish signal to the market.
If not, well… you can draw your own conclusions.
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📈 Critical BTC Levels to Watch
Resistance to Break: $97,228
BTC must break and hold above $97,228 to target the next levels at $98,127-$99,066.
Failure to break this resistance signals weakness.
Key Supports Below:
If BTC falls below $96,160, expect support at $95,324, $94,396, and $93,421.
Breakout Zones:
Bullish: Watch for a breakout above $97,317 with volume to confirm the move.
Bearish: If BTC drops below $96,840 with volume, it could trigger further declines.
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📉 Understanding CPI Impact
Broad CPI Expectation: 2.9%
Lower than 2.9% = Positive for BTC.
Higher than 2.9% = Negative for BTC.
Core CPI Expectation: 3.3%
Equal to or lower than 3.3% = Bullish.
Higher than 3.3% = Bearish.
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💡 Trading Logic to Remember
If CPI data is positive, but BTC fails to break $97,228, the market remains weak despite good data.
If BTC breaks $97,228, the focus shifts to upper targets at $98,127-$99,066.
If CPI is negative, look for support at the levels mentioned above to guide your strategy.
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Stay sharp tonight as volume and resistance levels will dictate BTC’s next move!
👉 Trade BTC/USDT now on Binance!
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