The Wolf Of Few Streets
The Wolf Of Few Streets 1 minutes reading from Bitcoin

Market Weekly: Market at the Forefront of OPEC Decision

🧵 1/5 Briefly about what is happening on the market at the moment.

On Wednesday (tomorrow) at 12:30 GMT, PPI Data is expected to be released (Producers Price Index) and on Thursday 12:30 GMT CPI(Consumer Price Index). 1/5 btc crypto

2/5 There is a lot of pressure on the market due to the justified expectation of higher-than-expected cpi and ppi figures. The reasons for such expectations are the rise in fuel prices in connection with the decision of OPEC, and so on. 2/5

3/5 The connection between these events is very simple: rising fuel prices -> higher inflation -> risk of continuation of the hawkish policy of the US Federal Reserve and further rate hikes. 3/5

4/5 However, the main support level is 17500. Since we are quite high from it, I think the worst-case scenario is to test it again and it is unlikely to go lower. 4/5

5/5 If the data comes out even in accordance with expectations, then the market will go up, since the negative has already been partially priced.

Follow my Telegram channel to get market updates quickly 💨 👉

The Wolf Of Few StreetsThe Wolf Of Few Streets
This post is based on this twitter thread.

Comments

Please login to comment.