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via Cointelegraph · By Cointelegraph Staff
Bitcoin Price May Dip Toward $70K as Fed Estimates Hotter CPI Print
BTCBTC · Live data
$82,796 −1.31%
- 24h Volume$19.00B
- 24h Low / High$82,228 / $83,922
- Long/Short1.89
- Funding Rate+0.0040%
Data provided by COINOTAG DATA
Bitcoin
BTC · Daily (1D)$83,032.00−0.35%
Volume (24h)-
Bitcoin Resistances
Resistance 1$84,088.74EMA 20, Pivot Point+8
Resistance 2$84,899.21R1, LVN 5+7
Bitcoin Supports
Support 1$82,314.93S1, Swing Low+7
Support 2$80,872.93BB Lower, SMA 50+8
Pivot point (PP)$83,902.43
Trend (1D)Uptrend
Bitcoin Fibonacci Retracement
61.8%$69,105.66
50%$72,597.93
38.2%$76,090.20
RSI (14)51.7
Bitcoin technical analysis and outlook
Daily (1D) · Data provided by COINOTAG DATA
CS
Cointelegraph Staff(10:47 AM UTC)
1 min read
Bitcoin (BTC) may head into next week’s US inflation report with less support than it had during the last two CPI releases, raising the risk of a pullback toward $70,000.
Key takeaways:
- Cleveland Federal Reserve nowcast projects April headline CPI to rise to 3.56% year over year.
- BTC’s rising wedge pattern could trigger a decline toward $70,000
Fed estimates 0.26% rise in headline inflation
The…
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