The US inflation remains well above the goal of the Fed. Disinflationary dynamics adhere to.
The US inflation remains well above the goal of the Fed. Disinflationary dynamics adhere to.
- US inflation remains well above the goal of the Fed
- Disinflationary dynamics adheres to
- Since further interest rate increases are to be expected, US dollar buyers are likely to appear
Last week, the Association of the United States signaled its willingness to interrupt the interest rate cycle. It was said that the committee would remain dependent on data.
Well, the data show that the Fed will probably continue to raise interest rates. The US inflation report for April was published yesterday.
While the annualized inflation continues to drop, it is still well above the goal of the Fed. In connection with the robust job market, the Fed gives the green light for further tightening.
Bitcoin followed a way similar to Fiat currencies. The US dollar increases and tends upwards, as the AUD/USD exchange rate shows, which could not stay over 0.68 and is currently falling by around 100 pips points.
at Bitcoin, however, the downward trend seems to be more pronounced. A head-shoulder pattern indicates a decline to $ 24,000 should the dynamics of the US dollar stop.
The technical analysis indicates a decline in $ 24,000
After a strong rally in 2023, Bitcoin failed at 30,000. You can see a bearish technical pattern-a head-shoulder pattern.
The measured movement, shown in blue, indicates a decline to $ 24,000, an area that offered resistance in the past. Therefore, according to the principle of interchangeability, it should offer support in the first re -test.
Bitcoin followed the US dollar and the events on the traditional financial markets influenced the development of Bitcoin. Yesterday's inflation report shows that the Fed will probably continue to raise interest rates, so that the downside is the way of the slightest resistance for Bitcoin.
Source: Coinlist.me