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Bitcoin tested the $89k support and got rejected.
We lost the 50-week SMA, but we’re now sitting on the 100-week SMA.
The $83k level must hold if we want to keep this rebound scenario alive.
Today at 8:30 ET, the US PPI will be released
The first one since September 10
Expectation: 2.7%
This print will heavily impact the odds of rate cuts in December
Expect strong volatility.
➡️ Right now, I’d suggest sitting back and watching.
We have too many unpredictable indicators…
Until we see a clear direction, bull 🐂 or bear 🐻, I don’t think it’s worth taking unnecessary risks on BTC or alts.
Let’s wait for the FED data and see where we stand 👀