Predicting the future - CPI tommorrow
We have a very important CPI print as well as FOMC meeting tomorrow. Based on where the charts are at currently tells us massive volatility will appear beginning tomorrow.
As I have been posting previously about BTC & some alts most charts show that they are at extremely key levels of support. This should give us a great chance to enter positions around these levels, but we also must be aware that if these levels are lost tomorrow with a bad CPI print then it could lead to a massive liquidation waterfall to the downside.
My guess is CPI will have a good print tomorrow due to how the charts look. January, March, and May CPI prints all lead to a drop before then rally after. It could look very similar to the current situation we are in.
I also have 4 charts pulled up. BTC (top left) show that we are holding about our orange line which could be confirming a retest of old resistance into new support. Total (top right) needs to close a little higher to also confirm its old resistance level as new support. Total 3 (bottom left) shows the 0.236 liquidity level is currently being defended yet again. Others (bottom right) is holding our green level of support for the third major test around 250B.
Will update these charts once CPI numbers print. Right now the charts are leaning towards a bullish outlook, but have tight stop losses if those key level of support are broken.
As I have been posting previously about BTC & some alts most charts show that they are at extremely key levels of support. This should give us a great chance to enter positions around these levels, but we also must be aware that if these levels are lost tomorrow with a bad CPI print then it could lead to a massive liquidation waterfall to the downside.
My guess is CPI will have a good print tomorrow due to how the charts look. January, March, and May CPI prints all lead to a drop before then rally after. It could look very similar to the current situation we are in.
I also have 4 charts pulled up. BTC (top left) show that we are holding about our orange line which could be confirming a retest of old resistance into new support. Total (top right) needs to close a little higher to also confirm its old resistance level as new support. Total 3 (bottom left) shows the 0.236 liquidity level is currently being defended yet again. Others (bottom right) is holding our green level of support for the third major test around 250B.
Will update these charts once CPI numbers print. Right now the charts are leaning towards a bullish outlook, but have tight stop losses if those key level of support are broken.
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