Will the consumer price index report this week lead?

Bitcoin traders are alert this week with the start of US -Chinese commercial conversations and major job reports are scheduled to be issued. If the high inflation increases, it may shake the markets and affect the price of bitcoin. Everyone closely watches what is the following for Bitcoin.

Bitcoin regained a little today and is currently being traded at $ 107,423, an increase of 1.8 % last day. It was traded flat near $ 105,650 after the formation of the Doji candle on Sunday. The network activity also slowed down with a decrease in daily transactions on the series to the lowest level in one year, according to Blockchain.com. Altcoins also decreased like XRP and DOGE 1-2 %. But they recovered a little today and are circulating in green.

Bitcoin currency is stuck in a narrow range

QCP capital In the last common note stating that traders are closely watching Bitcoin as it remains stuck in a narrow range heading to the summer. Although implicit fluctuations are at their lowest levels for a year and seem cheap, actual price movements are smaller. Historically, short -term fluctuations usually decrease by July, just like last year when Bitcoin struggled to break $ 70,000 and the fluctuation decreased sharply.

They pointed out that if bitcoin is broken less than 100 thousand dollars or jumps over 110 thousand dollars, it may arouse new interest in the market. But at the present time, there is no clear event to pay it in this way. While the last total news caused quick and short reactions for a moment, these moves quickly vanished without any permanent effect.

Bitcoin even a long -term step in the long run?

After the United States’ strong job report strengthened the stock market and caused the price of gold to drop, Bitcoin did not often change and showed signs of slowdown. Bitcoin’s trading activity is increasing, and fewer investors put money in investment funds traded in Bitcoin. Traders are now betting on Bitcoin to do a good job later in the year, not any time soon.

Bitcoin may prepare for a higher move like New data A large liquidity area shows about 106,736 dollars. These areas often pull price procedures such as magnets, and with the BTC test already $ 105,000, the hack can be on the road.

New levels in all ages soon?

also, The profit/loss of the achieved bitcoin 90 % has decreased since June 4, which means that fewer investors are being confused. This reduces the pressure pressure and supports a possible height. With Bitcoin not showing any clear direction on the daily chart, analysts believe that it may decrease more before moving towards its highest levels ever.

Analsyts in Swissblock warns that high inflation can lead to fluctuation, and BTC may test about $ 104,000. analyst Mickybull Crypto He also sees a decrease possible to $ 101,500 due to the head and shoulder style. If BTC loses $ 100,000, it may face a deeper correction. “Short -term correction, then new levels at all,” he said.

Analysts say that any retreat from the price will be short -term because the long -term upward trend is strong. Once the 2021 direction line is broken, it can quickly climb to 140 thousand dollars and 150 thousand dollars. Bitcoin’s weekly chart shows strong rise with the cup, cup and bull science pattern, pointing to a possible outbreak of more than $ 109,000. These patterns indicate that BTC can rise about 35 %, up to about $ 143,000.

The main events this week-

The optimism of the market is high with the launch of the China -American commercial talks in London, where Trump said the meeting “should go well.” All eyes are now in the American inflation report on Wednesday to see if the definitions are driving prices up. If inflation is more hot than expected, it may reduce the chances of discounts in the prices of the Federal Reserve and shake the markets. Job reports on Thursday are also a major event that monitors closely to any signs.