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🅱️ Bitcoin Grows 96% | CPI Release 12-April + Ethereum UpgradeBoth the Ethereum hard-work and the CPI numbers being released are considered negative events for the Cryptocurrency market and the world at large. Let's see what the chart has to say. On chart we have the CPI numbers starting October 2022, released November 10... Notice that every time the CPI numbers are released Bitcoin goes up (within the same month)... Ok, let's get started. 11 Days after the October CPI numbers were released Bitcoin hit bottom and has been growing since. 13-Dec. the CPI numbers were released, Bitcoin dropped for three days staying within a higher low and continued with its intended course, up. 12-Jan. the CPI numbers for December 2022 were released and Bitcoin continued with its intended course, straight up. 14-Feb. the CPI numbers for January 2023 were released and Bitcoin gained speed and hit a new 8 months high, total growth exceeding 60% since the Nov. bottom/low. A correction followed after this new high... It is normal to see a correction after strong growth, the market moves in waves. Now, Bitcoin has grown by a massive 96.5% since its November 2022 bottom/low and March's CPI numbers will be released tomorrow together with the Ethereum upgrade. How will this affect the market? Corrections are normal and happen all the time. We are likely to see a drop that ends up in a higher low just as it happened from mid-February through mid-March. This drop might be much smaller or we might not get a drop at all maybe just a few days red and then new highs... The release of the CPI has been positive for Bitcoin so far, we have to wait and see. Do you agree or disagree with this analysis? Share your thoughts in the comments section below. Remember, corrections are normal and if Bitcoin and Ethereum drop a little bit, the other Altcoins can grow... Positive all-cross. But if the numbers are good, they can all continue straight up. CPI Conclusion | Irrelevant The overall dynamic is pretty simple. Bitcoin hit bottom and after the bottom is hit the only place left to go is up. The CPI numbers are released Bitcoin goes up. The CPI numbers are released Bitcoin enters a correction. Either one or the other but since the trend is up we continue getting higher highs and higher lows, regardless of the CPI. Before the CPI numbers are released, Bitcoin grows. If the CPI numbers are good, Bitcoin continues growing. If the CPI numbers are bad, Bitcoin can correct just to continue growing. That's what we have so far since the November bottom/low has been hit. Namaste.
INDEX:BTCUSD
by AlanSantana
28
US30 shortSharing my analysis and waiting patiently to enter US30 Short. As you can see, US30 is advancing to the Supply Zone, where it has to fill the imbalance in both 4Hr and 1Hr, hence looking forward to enter on a pin point zone where we can scale the profit towards the Demand zone taking out couple of imbalances. taking partials at 6.82R where as we scale unto 9.28R. Getting all set for the CPI and expecting the market to play accordingly. Safe Trade. Cheers Fxgoldsniper.
UShort
by Europeanbulls
2
US CPI and BoC Rate Today!A 6 day up move was broken yesterday with the Dollar falling below local support at 1.34900. The losses have continued today, however price looks to be holding as the market awaits the CPI and BoC rate news at 1:30pm and 3:00pm respectively. The Bloomberg's survey median forecast calls for a 0.4% increase in the core rate which if correct would lead to the expectation of a Fed hike once more this year. From a technical perspective the key levels to watch are 1.35600 and 1.34100, which is the top and bottom of the 6 day move. Looking back at recent CPI releases, the reaction has been relatively muted if there isn't a big surprise. However if the data does surprise a 100 pip move isn't uncommon.
by RuckSack
1
Levels discussed during the webinar 12 April12th April DXY break 102 to trade down to 101.60 (depends on CPI) NZDUSD: sell 0.6161 SL 25 TP 70 AUDUSD: sell 0.6615 SL 20 TP 50 USDJPY: up&downside potential, check chart GBPUSD: buy above 1.2410 SL 20 TP 100 EURUSD: buy 1.0940 SL 15 TP 30 USDCHF: do nothing for now USDCAD: watch BOC, sell 1.3480 SL 20 TP 60 GBPJPY : buy above 165 (test and reject trendline) SL 30 TP 100 (hesitation at 165.50) EURGBP: sell down below 0.8765 SL 20 TP 40 GOLD: test trendline up to 2033
TVC:DXY
by JinDao_Tai
DXY Potential Forecast | Pre CPI | 11th April 2023Fundamental Backdrop 1. CPI tomorrow will give greater clarity to the direction of the USD. 2. Last week's NFP result was positive and bullish for the USD, with unemployment rate falling to 3.5% yet again. 3. CPI m/m forecasted at 0.2% compared to previous 0.4%, market has been pricing in a further slow down in CPI. 4. CPI reading would provide insights to the next FOMC meeting and whether Fed continues to hike or pauses. 5. Core CPI m/m forecasted at 0.4% compared to previous 0.5%. 6. All in all, inflation has been slowing down and Olympus Labs forecast that the road to inflationary cooling will be a smooth one from here on out. Technical Confluences 1. Price rejected off resistance at 102.8. 2. DXY still bearish on H4 timeframe. 3. Price could potentially tap into the support at 101.67. Idea We are looking for price to continue its bearish trajectory till 101.67 and potentially form a new low. NOT FINANCIAL ADVICE DISCLAIMER The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas. We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades. Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks. OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
TVC:DXYShort
by OlympusLab
DXY Outlook 11 April 2023Note: Not sure what happened at 3am (GMT+8) with the candle reflecting a huge spike up and down. Does not show up on my MT4, so I shall take it as a glitch. Slightly surprisingly, the DXY strengthened strongly overnight with most major economies still on an Easter Monday bank holiday. It is most likely that because there are no/less counterparties to trade against the US Dollar, this "allowed" price to keep climbing higher. However, as the price found resistance at the 102.80 price level and the downward trend line, the current price action on the DXY signals a retracement to the downside. If the price breaks below 102.30 (which coincides with the 38.2% fib level) the DXY could retest the 102 round number support level again, with the 61.8% fib level close by. Price action is expected to remain choppy, up until the US CPI y/y release tomorrow, with the data expected to signal further slowdown in inflation growth for the US. This could indicate a slowdown in the FOMC rates decision, especially with the stronger than expected NFP data last Friday showing some "safety" in terms of unemployment.
TVC:DXYShort
by JinDao_Tai
4.25$ SupportDollar once again hit 4.25$ level which was resistance from 2016 to february 2022 when price went above and this way created support which was tested in may/june 2022, january/february 2023 and right now. It seems solid so I would expect 5$ level retest in the near future and that way creating double bottom on current support. But if price will go below 4.25 and the volumen will be significant it can fall down. On 12th April US CPI level is going to be published and on 14th April PL CPI. Having up-to-date information, I do not plan to open a position earlier than next week.
by ven0x0
EXIT USD IMMEDIATELY - BTC + M2V + DXY + IR + SPX/M2 Adjusted M2 Velocity is starting to increase due to deposits and M2 removing from the US system back into the economy (this indicates inflation is coming back harder) (this is an internal run on the dollar) (hence Gold and BTC taking off) SPX adjusted for the M2 is showing the market is undervalued + indicating further stimulus to get economic activity going again (you can't tax deflation) DXY is showing extreme weakness after the BRICS movements and Saudi Arabia turning away from the USA including Japan showing less and less support (this is an external run on the dollar) TSI showing BTC on a moving average did not achieve a market top during the fraudulent activity (bitcoin never topped this cycle in historic behavior on a monthly scale) USM1 (red) showing portions of the 23 trillion U.S. dollars PRINTED from QE / C9 are starting to dangerous circulate and exit into hard assets starting the rise of the M2 Velocity (this is point of no return, there is no way to stop this) EXPLANATION - the FRED has most likely seen the dangers and panic raised rates + QT to reduce the effect on M2V, Just like Weimar Germany Jerome Powell is too late and they caught this too late (hyperinflation risk is now real) I have attached a Weimar Germany Wholesale Price Index compared this with the (LARGE BLUE) line indicating 1923 - 2023 is exactly repeating Finale question is when does this kick off? when majority figure out the FRED can't fix this? the FRED can't raise rates? the FRED can't taper? the FRED can't lower rates? the FRED can't stop M2V? the CBDC emergency is stop the money velocity and has nothing to do with modernizing US / EU dollars, the only option is to force control spending and circulating currency, have 10 million? you're now only allowed to spend 50k a year. Why buy Bitcoin? if Bitcoin does not work the world enters world war 3 nuclear fighting to defend dollar strength, rising dictators repeating once again imagine a Hitler but in control of the entire American and NATO military, why don't I like Gold or Silver? it never stopped wars happening after currency collapses and it sure as hell won't stop this unfolding. ---------------UNITED STATED OF AMERICA--------------- 1971 CPI Index was at 40 following the gold depeg CPI Index reached 178 in 2001, Sep 2008 Pre QE reaching 218 and by June 2017 this number kept raising reaching 244, as of the Feb 2023 report CPI index is at 301 points. If this were to repeat similar to Weimar Germany 248 points was the period of NO RETURN, once velocity starts to pick up 300 will be 600 once panic starts to pick up 600 will be 8,557, once QE starts to deal with this problem of people unable to afford basic needs this number will reach 22,486. This will mark the end of the current US Dollar System to be replaced by a new dollar pegged to hard assets once again. ---------------UNITED STATED OF AMERICA--------------- ---------------WEIMAR GERMANY--------------- Between May 1921 and July 1922 the previous tendencies were once more resumed. On the basis of an index number of 100 for May 1921, the circulation in July 1922 was 248.6, internal prices were 734.6, and the dollar rate 792.2. Again, between July 1922 and June 1923 these tendencies con­tinued, though at enormously in­creased rates. With an index num­ber of 100 for July 1922, circulation in June 1923 stood at 8,557, inter­nal prices at 18,194, and the dollar rate at 22,301. The prices of imported goods had increased to 22,486. ---------------WEIMAR GERMANY--------------- inflation rate in United States: 2023: 6% 2022: 6.5% 2021: 7% 2020: 1.4% 2019: 2.3% 2018: 1.9% 2017: 2.1% 2016: 2.1% 2015: 0.7% 2014: 0.8% 2013: 1.5% 2012: 1.7% 2011: 3.0% 2010: 1.5% END
INDEX:BTCUSD
by FederalXBT
USDCHF Potential Forecast | 3rd April 2023Fundamental Backdrop 1. CHF CPI m/m increased by 0.2%, much lower than the forecast 0.4% and previous 0.7% m/m. 2. The softer print of CPI shows that inflation has been slowing down at a much faster rate which could signify a dovish landing on the SNB. 3. Market Open on Dollar has been very bullish, however, with NFP lurking this week, expect plenty of volatility in the market. 4. USD ISM Manufacturing PMI releasing later on in the day and market has been pricing in a 47.5 compared to 47.7 previous. Technical Confluences 1. H4 resistance level at 0.921. 2. H4 support level at 0.9085. 3. Price could potentially retest the resistance level at 0.921. Idea Given the weak CPI reading on CHF, there is a weak bullish outlook on USDCHF as upcoming ISM news on USD is also slated to be a softer print. NOT FINANCIAL ADVICE DISCLAIMER The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas. We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades. Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks. OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
Long
by OlympusLab
GBPJPY Technical Analysis 31.03.2023 1h chart– Previous Daily candle closed Bullish at 164.230 above Daily Resistance formed on 28th February 2023. – Buys on close above 164.470 targeting Weekly previous Support formed on 5th December 2022 at 164.470, Leaving Runners to the 1h previous Support formed on 28th February 2023 at 165.420. – Sells on close below 163.930 targeting 1h Support at 163.560, Leaving Runners to the 4h Support formed at 163.200. – As the Monthly candle coming to a close it is highly recommended to wait for strong confirmations and volume sessions before taking any positions.
by SalimFX20