BITCOIN Might Pump on Eased Inflation (CPI)

CPI is out in a few hours and an eased inflation is expected.

A good indication is this:

Federal Reserve Bank of New York, Center for Microeconomic Data :

Inflation Expectations Continue Decline at the Short-, Medium-, and Long-Term Horizons
Median one- and three-year-ahead inflation expectations both posted steep declines in August, from 6.2 percent and 3.2 percent in July to 5.7 percent and 2.8 percent, respectively. Median five-year-ahead inflation expectations, which have been elicited in the monthly SCE core survey on an ad-hoc basis since the beginning of this year and were first published in July, also declined to 2.0 percent from 2.3 percent. Expectations about year-ahead price increases for gas also continued to decline, with households now expecting gas prices to be roughly unchanged a year from now.

Note: The newly released series for median five-year-ahead inflation expectations is now included as the last tab in the “Chart Data” Excel file provided under the downloads drop-down menu.

For more details:
Press Release: Inflation and Home Price Expectations Decline Further

HOW ABOUT NEGATIVE INFLATION?
Well there needs to be balance. A slightly eased inflation is good news, a more than anticipated eased inflation is a great news but a VERY decreased inflation is the worst kind of news as it could signify Recession.

So, let's be careful as always , personally I am bullish to 23200 (resistance) and if price can break back into the channel then 25200.

Check my chart for all key levels.

One Love,

The FXPROFESSOR