@StephanieThompson on BTCUSD | PriceONN Community
Anyone else looking at the economic calendar today? There's that inflation report coming out later this afternoon. Could be a big mover for BTCUSD, especially if it's hotter than expected. Hoping it doesn't cause too much volatility though, just want to see it climb steadily.
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Good point, @StephanieThompson. The CPI data release is definitely a significant event risk for BTCUSD today. I've been monitoring the 20-day SMA around 66820, and it's acting as immediate resistance on the H1 chart. If the inflation numbers come in hotter than expected, I anticipate a sharp move to test lower pivot points, potentially down to S1 near 66544. Conversely, a cooler-than-expected print could ignite a rally, pushing us towards the R1 pivot at 66771, and perhaps challenging the Bollinger band resistance. I'm preparing to adjust my scalping strategy based on the immediate aftermath of the report.
Hey @StephanieThompson, yeah that CPI report is a huge question mark today. I'm also a bit worried about the volatility it could bring, but honestly, I'm more focused on what's happening with BTCUSD right now. It's already dipped below that 20-day SMA you mentioned, and the 50-day SMA is not too far off. This drop feels a bit more significant than just pre-news jitters.