As predicted #DXY started to drop, this shows that there is a propensity to shift liquidity into risk assets.

With good odds we will see #BTCUSDT #BTC  price towards 28k.

Tomorrow we will have #CPI data release and as i said it will be a bullish event imo, inflation is topping here. Here an interesting chart:

Courtesy from: @HenrikZeberg

Now, I can't tell you if this will play out, making long term predictions is always complex, we will observe the price action, logically it is essential to get out of this bear trend before calling for a reversal.

Soft lending announced on q1 2022 will likely happen, FED continues to be aggressive with third consecutive 0.75% rate hike given also from strong unemployment data staying low.

Gas and oil prices down.

CPI data will show inflation falling and it will be a boost for the market

An update and some thoughts about imminent Ethereum Merge and today CPI data release:

https://twitter.com/criptopaul/status/1569465331126779904?s=21&t=mp-odP40LqOzfrnpmyOTKg

What people don't understanding is CPI is topping as predicted, on its third consecutive decline.

June 9.1% Top
July 8.5%
Aug 8.3%

The dip is caused simply by algorithmic bots (HFT Bots) that caused a rip on forecast that stood at 8.1%

Nothing has changed on my TA for #BTC #btcusdt and for $ETH

Will I be wrong? Maybe. But I don't change my mind as many 400k followers TA chad based on fluctuations of 2-3k.


As you know i started to give a warning from January on imminent fed axe and subsequent bear market.

I still think we are building a bottom structure, a period that can last as long as a year aswell of accumulation with 5-6k ranges.

#ETH

Trendline support touched

2400 by December 2022

Nothing has changed.

- #DXY looks really exhausted here
- #BTCUSDT is well below all moving averages and failed to break 18k level.

Remember 'from failed moves, born fast moves'

My plan remain the same

https://twitter.com/criptopaul/status/1566816039148683265?s=46&t=GpdhiJwrJCNaQ-iNq1taqg

3 Mins to go

As we know we had a big dip for the first 6 months of 2022, discounting what we are seeing today, the FED's moves, but widely announced in late 2021 and early 2022.

Summarized here:
https://twitter.com/criptopaul/status/1481304767691472904?s=46&t=bLGJF0uLCCNa2sI2PFoFDw

First month of the second half, July, the markets saw the best performance in the last 2 years.

CPI is topping.

All this should give pause for thought.

There is a lot of talk about the 10Y bond, but it really does not have a correlation with price trends, it never has.

We have been trending sideways since June essentially.

We are now in maximum market fear, far from any major Moving Average.