130
Markets are still trying to digest the latest CPI inflation report from the United States and, however you interpret it, it was, according to newspaper reports, the largest price hike since 1990. Of course, this explains the reaction of the United States. gold, which rose above $ 1850 yesterday afternoon. However, it also served to give Bitcoin a boost, which is now seen as the new when it comes to inflation hedging tools. Personally I'm not sure I'm buying it yet, but that's the reality. The major cryptocurrency made a higher move as it follows gold's rise. BTC is back above 69k. The high so far has been set at 69000. Just prior to the US CPI data it was trading closer to 66k and the initial reaction to the data saw it drop to test that level, but not anymore.
Bitcoin certainly reacted positively to the record press of US inflation yesterday. The leading cryptocurrency climbed above 68k again, eventually setting a new all-time record at 69000. As this happened, it was noted that many traders now see BTC as the ultimate digital hedge against inflation. However, this status has been and still is questioned. Because BTC then fell sharply at the close of the United States, falling as low as 62,823, a drop of more than $ 6000 from its previous all-time high. It stabilized overnight during the Asian session, trading completely sideways, within a range of 64-65k. The exact range has been covered from 63,922 to 65,299 so far. If there had been an official close level for BTC last night, then it would have delivered a monstrous key reversal. However, there is no official closure, so it doesn't matter in technical terms. This principle could still save him, but the price action from the new all-time high is clearly not an endorsement of his so-called new inflation hedging status.
The dominance of Bitcoin is going down slightly.
Crypto Fear & Greed Index 77 Extreme Greed
For intraday trading I insert the levels:
Happy trading everyone!
Please note that Pionex has developed a new trading bot with the Martingale technique. Source Pionex.com
Why register with Pionex? 13 free bots. Pionex was born to offer free automated trading tools, from as many as 13. Another very important thing is the liquidity to make the bots go, otherwise they are not performing. But Pionex is not lacking, in fact it is the first exchange that aggregates the liquidity of the BINANCE exchange and the HUOBI GLOBAL exchange. As it has an agreement with Binance and Huobi (liquidity engine, point above), it has very low trading fees of 0.05%. is regulated both in Singapore and in the United States. Pionex holds the MSB (Money Services Business) license granted by the US FinCEN, the same license applied by Binance, Huobi and major exchanges. https://www.pionex.com/en-US/sign/ref/QLDg0xFT
Log in to Publish0x:
https://www.publish0x.com/?a=oQeZ4DR6bp
Open an account with use my code: https://www.kucoin.com/ucenter/signup?rcode=rJEUMUV
Link telegram: Follow me on Telegram for more details during the day, it's free and not just crypto, test my signals https://t.me/joinchat/AnTsG6fqLn0zODRk
Register an account on Binance to get a 5% discount on commissions forever: https://www.binance.com/it/register?ref=NG0GOL6H
Join NOISE and earn BCH every day: https://noise.cash/u/trade60
This article does not contain investment advice. Every investment and trading move carries a risk, readers should conduct their own research when making a decision.
THE OPINIONS EXPRESSED BY THE AUTHOR ARE FOR INFORMATION PURPOSES ONLY AND DO NOT CONSTITUTE FINANCIAL, INVESTMENT OR OTHERWISE ADVICE.
