BTC price risks $27K loss as Bitcoin trend lines brew ‘bullish cross’

Source: TradingViewBTC price “rolls over” after short recoveryData from Cointelegraph Markets Pro and TradingView followed BTC/USD as it risked a further loss of support.After a modest healing from regional lows seen the day prior, the pair remained weak, even as new United States macro information provided bullish cues.”Dump was backtracked but then cost quickly rolled over again,” popular trader Daan Crypto Trades summarized. Source: Crypto Tony/TwitterAmong the bullish voices on the day was trader and analyst Moustache, who in a positive analysis focused on longer-term price trends.Specifically, 2 moving averages, the 20-week and 200-week, were about to stage a type of “golden cross,” wiping out their interplay from September 2022, months before Bitcoins latest cycle low. S. information joins CPI, dealing fresh blow to inflationOn macro, meanwhile, encouraging U.S. Producer Price Index (PPI) and unemployment data gave crypto investors cause for cautious celebration.Related: Bitcoin trader eyes $63K BTC cost for new Bollinger Bands breakoutJobless claims were up on the day, while PPI conformed to expectations of inflation continuing to trail off.Together with similar signals from the Consumer Price Index (CPI) the day prior, the odds were on for interest rates to stop increasing in June, monetary analyst Tedtalksmacro reacted.

Bitcoin (BTC) headed toward $27,000 after the May 11 Wall Street open as bulls stopped working to show strength.BTC/ USD 1-hour candle light chart (Bitstamp). Source: TradingViewBTC cost “rolls over” after short recoveryData from Cointelegraph Markets Pro and TradingView followed BTC/USD as it risked a further loss of support.After a modest healing from regional lows seen the day prior, the pair stayed weak, even as brand-new United States macro data used bullish cues.”Dump was retraced however then price quickly rolled over again,” popular trader Daan Crypto Trades summed up.”Were still trading at the variety lows and until broken I think shorts arent excellent R: R. Bulls need to show strength by retaking the everyday open for me to consider a possible turnaround scenario.”As Cointelegraph reported previously, market participants continued to prepare downside targets, with many concentrating on the area around $25,000.”I stay brief personally, however for anybody not in a short yet i would wait until we lose $27,000 then seek to brief this assistance zone loss,” fellow trader Crypto Tony continued. “For now we are holding it so no factor to short right now.”BTC/USD annotated chart. Source: Crypto Tony/TwitterAmong the bullish voices on the day was trader and analyst Moustache, who in an optimistic analysis focused on longer-term price trends.Specifically, 2 moving averages, the 20-week and 200-week, will stage a form of “golden cross,” erasing their interplay from September 2022, months prior to Bitcoins newest cycle low.”In September 2022, there was a bearish cross of the SMA 20/200 line for the very first time on record. This provided many individuals the opportunity to purchase $BTC at ~ 15k,” Moustache explained. “And now? The SMA 20/200 will cross bullishly. Price above blue = Always bullish (see 15,19).”BTC/USD annotated chart. Source: Moustache/TwitterU. S. information joins CPI, dealing fresh blow to inflationOn macro, on the other hand, motivating U.S. Producer Price Index (PPI) and unemployment information offered crypto investors trigger for mindful celebration.Related: Bitcoin trader eyes $63K BTC price for new Bollinger Bands breakoutJobless claims were up on the day, while PPI complied with expectations of inflation continuing to route off.Together with similar signals from the Consumer Price Index (CPI) the day prior, the chances were on for rates of interest to stop rising in June, monetary analyst Tedtalksmacro responded.”US unemployment claims greater to +264 k and PPI in-line with consensus on the heading + core prints. More information conducive to a pause in June,” he tweeted.A more post argued that “Todays United States PPI numbers declare that the course of least resistance for CPI inflation is down.”Fed target rate probabilities chart. Source: CME GroupThe most current readings from CME Groups FedWatch Tool revealed market consensus for a June rate hike pause at over 96%. Publication: Unstablecoins: Depegging, bank runs and other threats loomThis short article does not include investment recommendations or suggestions. Every investment and trading move involves danger, and readers should perform their own research when deciding.