weak CPI reaction

١٣ يوليو ٢٠٢٣

Morning folks,

Today it is mostly sentiment analysis rather than technical one - because you will not find any more or less clear patterns on 4H chart now.

But, what is really interesting - weak CPI reaction. Take a look at gold, at FX market and compares to BTC. Something is wrong here with the mood. ETF driver has exhausted, and market needs the new one, but doesn't exist by far.

That's why we do not see reasons yet, to cancel our previous view that BTC could show deeper retracement, supposedly to 4H K-support area around 28.5-28.8K