Bitcoin Technical Analysis – The US NFP weighed on the cryptocurrency ...Middle East

Fundamental OverviewThe strong US NFP report last Friday triggered some defensive positioning in Bitcoin as we head into the US CPI and FOMC decision tomorrow. In the big picture, the data didn’t change much but it added a bit of uncertainty into the market which is now waiting for the US CPI to clear it out. In case the US CPI comes out soft, then we can expect Bitcoin getting a boost and possibly breaking to new highs. Conversely, a hot report will likely trigger another selloff and take us back to the 60K support zone. Bitcoin Technical Analysis – Daily TimeframeOn the daily chart, we can see that Bitcoin couldn’t extend above the 72000 resistance and eventually dropped back into the 6727

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