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Tuesday, May 2, 2023

Bitcoin PA & US inflation index & FED Rate Rises

Bitcoin PA & US inflation index & FED Rate Rises

Bitcoin / U.S. dollar BITSTAMP:BTCUSD

So while we wait on the next instalment of the DXY support Group ( FED) and its expected 25 point rise, which may possibly be the last one for now, I post the updated chart of its effect on Bitcoin PA and the US inflation index, which the rate rises are meant to be curbing

You will alos note that the rate rises have had a minimal effect on BTC PA really, it has been more the collapse of companies effected by higher interest rates that has knocked confidence int he market in general

what some may also notice is how BTC PA is forming a very Bullish CUP pattern beneath the line I have drawn as the line of "recovery" and I expect PA to break above this later on, come back and retest it and then continue its Rise over the course of the next 18 months to 24 months
There are a number o f reasons to expect this that include the New Model of Global finance coming int o play with BRICS and the Bitcoin "Halving" , expected Q2 next year but with the increase of Mining operations, this date could be advanced/
Overall, Bitcoin IS doing very well despite many moves to try and destabilise it and has actually outperformed GOLD as a Store of Value.

Do not miss teh chance to buy BTC, it may never return to this price range again
P>S that is NOT Advice in any form DYOR and do it well

Via TradingView Ideas

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