Today we have# CPI, #CoreCPI, #CPIannual and #NY manufacturing index.
Theoretically, to estimate this month's CPI, we have to look at last month's PPI and the price of oil from about 2 months ago. Both were soft, so leaving the gargling of some aside, I expect the monthly CPIs to be soft.
The surprise can appear at the annual CPI, where if we have over 3%, the markets would panic a little. I think that the reaction would be momentary and would not cause a change in direction. Anything equal to or below 2.9% would be bullish. At inflation, good news = good news. With unemployment, bad news = good news due to the influence on the Fed's decision to lower the rate and introduce liquidity.
So I expect BTC to continue its path towards resistance from 99-100k today and tomorrow. Having reports on Friday, we know that the market maker is free to do what he wants. It will probably favor the downward direction, preparing for a possible sell the news event at Trump's inauguration on Monday. Also on Monday, if it materializes, we could see a descent towards the lower part of the channel and the filling of the wick created at the beginning of the week. Not completely, but at least 50% up to 91-92k, I wouldn't be surprised. Then back up! but nothing is absolutely sure!!
will see...
@goldenfibs