๐จ HOT INFLATION DATA: WILL BITCOIN FACE ANOTHER PULLBACK?
$BTC
September CPI data has raised fresh concerns across the market. ๐
๐ Key Numbers to Watch: ๐น Annual inflation increased from 3.4% to 3.7%. ๐น Core CPI rose 0.3% month over month. ๐น Gasoline prices surged 9.1% in September.
This could complicate the Federal Reserve's decisions and put pressure on risk assets. ๐
However, higher inflation doesn't guarantee an immediate Bitcoin crash. BTC could still move higher before choosing its next direction.
๐ฏ My BTC Trading Plan: ๐ธ Resistance zone: $83,500โ$84,000 ๐ธ Potential downside target: $80,500 ๐ธ Stop-loss: Around $84,200
If BTC faces rejection near resistance and confirms weakness, a short setup could become interesting. But if the price breaks above resistance and holds, I'll reconsider the bearish outlook.
โ ๏ธ Patience is key! Don't open a trade just because the news looks bearish. Wait for price confirmation, manage your risk, and protect your capital.
Let the chart confirm the direction before making a move. ๐ค
#Bitcoin #BTC #CryptoMarket #CPI #CryptoTrading
$BTC
September CPI data has raised fresh concerns across the market. ๐
๐ Key Numbers to Watch: ๐น Annual inflation increased from 3.4% to 3.7%. ๐น Core CPI rose 0.3% month over month. ๐น Gasoline prices surged 9.1% in September.
This could complicate the Federal Reserve's decisions and put pressure on risk assets. ๐
However, higher inflation doesn't guarantee an immediate Bitcoin crash. BTC could still move higher before choosing its next direction.
๐ฏ My BTC Trading Plan: ๐ธ Resistance zone: $83,500โ$84,000 ๐ธ Potential downside target: $80,500 ๐ธ Stop-loss: Around $84,200
If BTC faces rejection near resistance and confirms weakness, a short setup could become interesting. But if the price breaks above resistance and holds, I'll reconsider the bearish outlook.
โ ๏ธ Patience is key! Don't open a trade just because the news looks bearish. Wait for price confirmation, manage your risk, and protect your capital.
Let the chart confirm the direction before making a move. ๐ค
#Bitcoin #BTC #CryptoMarket #CPI #CryptoTrading