Over the past day, #Bitcoin buyers made another attempt to break through the limit resistance at $58,000. But sellers joined in with market orders and lowered the price to $56,100. At this level, buyers set limit support and held it, while during the fall, they did not remove limit support at $57,000 - $56,500, so sellers had to break it. All these arguments indicate that the buyer showed strength, despite a small price rollback.
Nothing interesting is happening on the #AltcoinBoom! market yet, they mostly repeat Bitcoin's movement. Dominance is consistently above 57%.
❗️ THE MARKET IS EXPECTING NEWS RELEASE.
Today, US #inflation data is released.
In August, it fell from 3.0% to 2.9%.
Most #investors assume that inflation will fall to 2.5%. If this happens, the market will most likely not react to it at all or will grow slightly, because it is already included in the price.
If the actual value is below 2.5%, this will be a positive signal and the market will start to grow. If inflation is significantly higher than 2.5%, this is negative for the market and will fall accordingly.
Be careful in transactions half an hour before this event and half an hour after, because increased volatility is possible.
Good trading to all.