Opera Summary:

Bitcoin almost reached US$ 110 million, but oops, sellers showed up. Traders are drawing pretty patterns and praying for the RSI to save them. CPI may (or may not) be the trigger for volatility (or more sideways movement).

Moral of the story? "The stage is set." Just don't ask for what.

🚀📉

Note: complete reading below!

Bitcoin Promises US$ 110 Million (Again) While Analysts Console Themselves with Head and Shoulders Drawings and CPI

Ah, yes, Bitcoin (BTC, for the close ones) almost reached the glorious US$ 110 million today. Almost. But, as usual, the sellers decided that the fun was good enough and pushed the price back into its comfort zone – that narrow range where traders can keep posting charts with arrows and talking about "accumulated liquidity" as if that were a revolutionary strategy.

"Shocking" points from the current analysis:

US$ 110 million? Only in the next life (or in the next pump). BTC reached US$ 109.777 before remembering that, in fact, nobody wants you to get rich that easily. Order book? Full of traps. Stops above US$ 110 million? "Not safe," warns trader Jelle, as if anyone still believed that stops were ever safe.

Magic chart pattern alert: Shoulders! Head! Shoulders again! The BitBull (totally casual name) warns that the 3-day RSI is forming an "inverted head and shoulders". Translation: "If the price closes above US$ 110 million or the RSI goes above 70, maybe—just maybe—the market will decide to rise for 3 to 4 weeks." Spoiler: If it doesn't rise, just draw another pattern.

CPI: The Event That Will Change Everything (Or Nothing). The next week brings the Consumer Price Index (CPI), because, of course, the market needs another excuse to swing for no reason. QCP Capital has already hinted: "The Fed may cut rates… or not. Markets think so… or not. Warning: this is not financial advice. Do your own research.