Bitcoin Trend Analytics October 13

13 oct. 2022

BTC is about to leave the downward channel. If CPI is lower than expected, it will jump out of the channel; otherwise, BTC drops and prolongs the movement within the channel. Strength is contracting, cultivating a breakout that is likely to happen upon the release of CPI.

Yesterday BTC ran between the speculative area at $18798.44 and intraday resistance at $19275.64. The capital inflow held the pressure from bears. This will keep going until a high volatility moment at 20:30(UTC+8). As volume shrinks, intraday support and resistance are fragile today, which is more prominent as the release time approaches. Use today’s intraday target points prudently.

The expected CPI figure is 8.1%:
if data <8.1%, BTC rebounds
If data >8.1%, BTC drops
If data =8.1%, BTC goes sideway

The market expected interest rate hike in November: 75bp(15.2%),50bp(84.8%)

13 oct. 2022

Note

$18798.44 is diverted to $18763.03