Bitcoin continues to dance along the key resistance level of $30,000. We will not repeat the potential correction targets and the remaining growth target for the tenth time. If anyone is interested, you can refresh your memory by reading the posts above.
During this time, nothing really changed on the market. Perhaps the alts sank, but we warned you about this scenario.
âĄïž Today important macro data on consumer inflation in the US and data on mortgage applications will be released (this is the data that the Fed is currently monitoring).
Large players closed their margin positions in anticipation of this data. Because the further dynamics of market movements until the next Fed meeting, which will be held in June, will depend on the released data.
Possible scenarios:
đ Low growth or fall in inflation month on month (up to 0.5%).
Bitcoin and gold will continue their short-term upward rally.
đ Significant increase in inflation month by month (from 0.5%).
Full risk off on the market. Crypto will continue to fall and gold will also go down.
In any case, we do not expect strong growth of the crypt and a continuation of a full-fledged rally from the current ones. But at the same time, we are now betting on a scenario with a breakdown of the resistance level of $30,000 before the start of a full-fledged correction.
In general, until macro data comes out, there is no point in making new purchases.
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