Recently we've seen a lot of news and headlines surrounding today's CPI. The market expected that we'd go from 9.1% to 8.7% headline inflation. Furthermore, the market expected that the core inflation would rise from 5.9% to 6.1%.
As seen on the charts, both expectations have been beaten. Both headline inflation
and core inflation beat expectations by 0.2%, which naturally came as a bullish shock to the markets.
In my view, this is just what we need to get BTC out of the bear flag pattern in which we've been trading sine June. I'm expecting overall bullishness until at least September.
I'm especially looking at the yellow break out area. A close above here means that we will most likely break out of the bull flag and resume our way up.
Note that yesterday's post is still valid. We didn't get a bearish close below the blue trend line, so the bulls have the incentive.
As seen on the charts, both expectations have been beaten. Both headline inflation
and core inflation beat expectations by 0.2%, which naturally came as a bullish shock to the markets.
In my view, this is just what we need to get BTC out of the bear flag pattern in which we've been trading sine June. I'm expecting overall bullishness until at least September.
I'm especially looking at the yellow break out area. A close above here means that we will most likely break out of the bull flag and resume our way up.
Note that yesterday's post is still valid. We didn't get a bearish close below the blue trend line, so the bulls have the incentive.
評論:
We gave away a lot of the gains yesterday, but that does not mean that we're going down further.
Key point what I wrote was to wait for the break out through the top resistance of the bear flag. As long as we're trading in the bear flag, no real bull-trend can develop.
Lastly, as long as were above the blue line we're in a short-term bullish trend.
No reason to worry as of now.
Key point what I wrote was to wait for the break out through the top resistance of the bear flag. As long as we're trading in the bear flag, no real bull-trend can develop.
Lastly, as long as were above the blue line we're in a short-term bullish trend.
No reason to worry as of now.
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The YoY inflation data is the most important.