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US Economic Calendar: Labor Market and Inflation in Focus
Mark your calendars for Thursday, September 12, as initial jobless claims and producer prices take center stage. These key indicators could impact the Fed rate path and ultimately influence the direction of BTC prices. Keep an eye on lower producer prices and higher claims, as they could lead to a potential Fed rate cut, pushing BTC towards the $60,000 mark. On the other hand, a spike in jobless claims above 250k could reignite recession fears and dampen BTC demand.
Stay informed and stay ahead of the curve by following our latest news and analysis. Our expert insights will help you navigate the ever-changing landscape of the crypto market with confidence.
Technical Analysis
Bitcoin Analysis
When it comes to BTC, it’s crucial to pay attention to key technical indicators. Currently, BTC is below the 50-day and 200-day EMAs, signaling a bearish trend. However, a breakout above $58,000 could see a bullish momentum, with potential resistance levels at the 200-day and 50-day EMAs. Keep an eye on market trends, economic data, and sentiment towards the Fed rate path for a comprehensive view of BTC price movements.
On the flip side, a break below $55,000 could signal further downside, with the $52,884 support level in focus. With a 48.23 14-day RSI reading, BTC may experience a dip below $55,000 before potentially entering oversold territory.
For more exclusive insights and in-depth analysis on the stock market, trading strategies, and the latest developments on Wall Street, stay tuned to Extreme Investor Network. Our expert team is dedicated to providing you with the tools and knowledge you need to succeed in the world of investing.