BTCBitcoin prices between trend lines in inchesAccording to data from CointelegraphMarketsPro and TradeView, BTC/USD is attempting to recover its support level of $26000 after the daily close.Despite legal action and market preparations for a series of macroeconomic data releases in the United States, the two started the week surprisingly calm
BTC
Bitcoin prices between trend lines in inches
According to data from CointelegraphMarketsPro and TradeView, BTC/USD is attempting to recover its support level of $26000 after the daily close.
Despite legal action and market preparations for a series of macroeconomic data releases in the United States, the two started the week surprisingly calm.
Therefore, since the middle of the weekend, Bitcoin has remained within a narrow range.
The risk day of any deep trading, "popular trader CryptoTony wrote in a partial Twitter analysis of the day, considering the upward potential when a support flip occurs.
At the same time, the trading suite Decentralizer marked multiple resistance levels to overcome the next step. It points out that the interest rate of funds is rising, indicating that a potential trend reversal has entered.
EMA
Ultimately, we will see in the coming days whether this situation will continue, or whether we will continue this downward trend, "VandePoppe commented on the latter the day before.
CPI Day Coming
The macro data released this week is centered around the Consumer Price Index (CPI) released on June 13th - just one day before the Federal Reserve announced interest rate changes.
The Federal Reserve is expected to pause rate hikes, marking a long-awaited policy turning point after ten consecutive rate hikes.
Although beneficial to risky assets, including Cryptocurrency, not everyone is optimistic about the impact of the interest rate freeze.
The analysis account The LongView wrote in part of its latest Twitter comment: "The Federal Reserve may still sound hawkish, but the more important question is whether they will keep interest rates unchanged (effectively tightening policies) if inflation further decreases
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