BITCOIN BULLISH!!!
Every financial news/events affects the market especially the cryptocurrency. It makes the market highly volatile and it creates a risky trading set-up. This is the narratives or fundamentals which is another thing to consider when trading.
Last week, US CPI data come out with previous 3.2% and forecasted 3.6% the actual data is 3.7% higher than expected which is bearish for the risk asset like Bitcoin. But the CPI data does not affect the price of Bitcoin, it only gives little volatility and nothing impulsive movements happen.
And according to CME Group's FedWatch Tool, they did not expecting the Federal Reserve to raise again interest rate later in the month, instead a pause is highly possible.
Amidst this bearish fundamentals $BTC is performing well in the past few days. So is it bullish? What do you think?
