Bitcoin: CPI Data Release Looms for BTC
Bitcoin eyes CPI release as markets dip pre-data. Historical pumps followed June and July prints, with 4h chart showing bearish MACD and $63624.45 price inside Bollinger bands.
SourceAnalysis
Bitcoin faces the next US CPI print tomorrow, with markets already sliding in the days leading up to the release in line with prior patterns.
June CPI triggered a 10.75% weekly gain while July delivered 7.58%, and the same setup now points to upside if the data beats expectations.
Price sits at $63624.45 on the 4h chart inside the Bollinger bands, with the EMA50 at $64377.51 capping upside and the EMA200 at $63749.75 offering thin support below. The MACD death cross at -248.57 keeps the structure bearish while RSI at 36.51 remains neutral, so any relief rally would likely stall at the upper band near $65721.77 before testing lower support at $63363.54.
Michaël van de Poppe
@CryptoMichNLMacro-Economics, Value Based Investing & Trading || Crypto & Bitcoin Enthusiast
Premium Sponsors
.jpg)