Bitcoin Dey Rise Amidst Wahala as Traders Dey Eye US Inflation Data and Key Technical Levels
Bitcoin (BTC) don recover by 1.41% inside the last 24 hours, e dey trade around $108,000 now after e do some kasala wey make am fall reach about $100,000. This recovery show say e don get four days wey e dey increase one after another, e mean say people don begin get better hope small for short time. But some analyst dey warn say market still dey fragile and e dey quick shak to big news about economy. Now, everybody dey look US economic figures wey go show soon: Consumer Price Index (CPI) for Wednesday and Producer Price Index (PPI) for Friday. This inflation numbers fit affect how Bitcoin price go move short time—if e higher pass wetin people expect, e fit make dem no wan take risk and make people start sell, if e lower, e fit help Bitcoin price go up. Important levels to check na support at $103,700 and resistance reach $114,800, with deeper support for $95,600 and $83,200 if selling no gree stop. E show say Bitcoin price dey closely linked to big economic things, and traders suppose dey watch US inflation numbers well. Market feeling dey take am easy but e fit turn quick as long as volatility dey continue.
Neutral
Even though Bitcoin don recover from sharp sell-off plus four days straight gain, the market still dey very sensitive to macroeconomic factors, especially the upcoming US inflation data (CPI and PPI). These things fit determine how Bitcoin go trend short-term. While better sentiment and strong technical support mean say e fit go up, big resistance and structural weakness mean say e still get chance to go down if economic data no come well. Traders suppose expect plenty waka-waka when inflation numbers drop, so outlook remain neutral until e clear say which way e go.