A Deep Correction Could Start Tomorrow
The June CPI (Consumer Price Index) report is coming out tomorrow at 8:30am.
Last month, worse than expected CPI numbers sent BTC into a bear market.
Will CPI numbers be worse than expected a 2nd time in a row?
Notice that while equities (including meme stocks such as AMC and GME) generally recovered from last month's CPI release, BTC did not. The market does not currently view BTC as an inflation hedge since it is an open-source banking ledger, and it is generally acknowledged that all banking ledgers are vulnerable to inflation.
Schedule of Releases for the Consumer price Index
Keep playing the MFI bounces strategically. If you played the 1-Hour MFI bounce on June 7th, you would have made a nice profit today.
Proof:
https://www.tradingview.com/x/CgGGiHBz/
Last month, worse than expected CPI numbers sent BTC into a bear market.
Will CPI numbers be worse than expected a 2nd time in a row?
Notice that while equities (including meme stocks such as AMC and GME) generally recovered from last month's CPI release, BTC did not. The market does not currently view BTC as an inflation hedge since it is an open-source banking ledger, and it is generally acknowledged that all banking ledgers are vulnerable to inflation.
Schedule of Releases for the Consumer price Index
Keep playing the MFI bounces strategically. If you played the 1-Hour MFI bounce on June 7th, you would have made a nice profit today.
Proof:
https://www.tradingview.com/x/CgGGiHBz/
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