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.

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


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