To make a macro and micro analysis of the Bitcoin chart (BTC/USDT) that we will analyze correlating with the inflation data from the United States, we will address two aspects: the technical analysis of the chart and the impact of inflation on Bitcoin price movements.

Technical Analysis (Micro and Macro)

1. Resistance and Support Levels:

Resistance: The upper yellow line marks resistance around 63,100 USDT, which coincides with the highest point the Bitcoin price reached in the last 24 hours.

Supports: The main support levels are near 62.191 USDT and 61.976 USDT. In case the price breaks down from the current support, the next significant level would be 60.338 USDT.

2. Indicators:

Stochastic RSI: The Stochastic RSI indicator on the chart is at 90.40, which indicates that Bitcoin is overbought in the short term. This could suggest a correction or a sideways move to relieve this pressure.

MACD (Moving Average Convergence Divergence): The MACD shows that the moving averages are in a bullish (positive) configuration, which suggests continuation of the bullish momentum in the short term. The histogram is above zero, indicating good buying volume, but is already starting to show a slight loss of strength.

3. Recent Movement: Bitcoin has been on a strong uptrend in recent weeks, breaking through important resistances. However, the 4-hour chart suggests a possible consolidation or correction, given the overbought level of the indicators.

Correlations with US Inflation (Macro)

1. US Inflation and Bitcoin: Historically, Bitcoin has been considered by many as a store of value and a hedge against inflation. When US inflation rises, it can devalue the dollar, causing assets like Bitcoin to appreciate. Recently, US inflation has been high, with the CPI (Consumer Price Index) above the Fed’s target, which is driving demand for safe-haven assets.

2. Monetary Policy and Impact on Bitcoin:

High Inflation: When inflation is high, the Federal Reserve may raise interest rates to curb rising prices. This tends to decrease liquidity in financial markets, which can generate volatility for speculative assets like Bitcoin.

Increased Liquidity: However, expansionary monetary policy aimed at combating previous inflationary pressures, such as low interest rates and increased liquidity, may have contributed to Bitcoin's upward trend in recent years.

3. Short- to Medium-Term Impact on Bitcoin: With inflation high, many investors see Bitcoin as a way to protect their capital against the devaluation of fiat money. However, aggressive interest rate hikes or monetary policy tightening by the Fed could trigger a significant correction in Bitcoin as many investors seek liquidity.

Conclusion

Micro (Short-Term): Bitcoin is in an overbought zone and could face a correction before reaching new highs. Watch for the loss of supports around 61,976 and 60,338 USDT, which could indicate stronger selling moves.

Macro (Medium-to-Long Term): With inflation high, Bitcoin may continue to be an attractive option for investors seeking protection against a weaker dollar. However, a more aggressive monetary policy from the Fed could increase volatility, potentially causing a sharper correction.

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