crypto news

The crypto markets saw surprise volatility on Thursday and Friday despite the US Consumer Price Index coming in worse than expected.

While CPI data saw an immediate sell-off after coming in at 8.2%, traders and investors took advantage of the dip and then continued to buy.

The overall crypto market cap has gained more than 5% in the last 24hrs while a number of large market cap coins also made impressive gains.


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After the CPI announcement, there was an immediate sell-off, with Bitcoin dropping from $19k to a 24hr low of $18,319.82. 

But within 12hrs, BTC had jumped back up to $19,835.17 – an 8.2% gain on the low – with volume surging by 76% on the previous day.

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A price retraction has since followed, but Bitcoin is now trading at $19,640.67, nearly 5% up in 24hrs.

Bitcoin Price Prediction: Short-Term Gain, Medium-Term Pain?

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Furthermore, indicators such as the Relative Strength Index (RSI) and Moving Average Convergence/Divergence (MACD) are both in a buying zone.

Bitcoin could break into $20k soon and reach as high as $21,000 in the coming days.

However, there is reason to be cautious in the weeks ahead despite the mini breakout.

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http://elements.mit.edu/?p=13#comment-2443

http://www.etc.cmu.edu/projects/tatrc/?p=32#comment-764683

https://blogs.gwu.edu/ahmedavid/2021/07/06/hello-world/comment-page-1/?unapproved=3&moderation-hash=059c81ff33103b9712663d4193201660#comment-3      

https://pervade.umd.edu/2018/02/pervade-collaborates-with-the-connected-and-open-research-ethics-core-team/#comment-15159

What has always worked for me is sticking to a plan until clear invalidation. I said that the invalidation for 21k was a CLEAN break of 19k. That means HTF close below that level, with volume. Price broke 19k but it never closed below. 

In fact, once it broke the level, my system was giving bullish signals and potential strong reversal. That's why I remained bullish. Right now price is back above 19k so the move below this level is considered as a deviation (bullish). 

Demand coming in confirms this. There's fuel to keep going up. Short squeeze is not over and 21k is very likely. Then I will turn full bearish again and wait for new lows.

http://sites.tufts.edu/tuftsgetsgreen/2012/10/31/campus-sustainability-council-fall-2012-update/#comment-324319

https://canvas.instructure.com/eportfolios/1534827/Home/crypto_presale

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