US Economic Calendar: Labor Market and Inflation in Focus
On Thursday, September 12, initial jobless claims and producer prices may further influence sentiment toward the Fed rate path.
Initial jobless claims and producer prices are set to be unveiled on Thursday, September 12, which could further impact sentiment toward the Fed rate path. Lower producer prices and higher claims might bolster expectations for a 50-basis point Fed rate cut, potentially driving BTC toward the $60,000 level.
However, if jobless claims surprisingly surge past 250k, fears of a recession could re-emerge, adversely affecting demand for BTC.
Keep a close eye on shifting sentiment and supply-demand trends, as they may influence demand for BTC. Stay informed with our up-to-date news and analysis to effectively manage your exposure to BTC and the broader crypto market.
Technical Analysis
Bitcoin Analysis
BTC hovered below the 50-day and 200-day EMAs, affirming bearish price signals.
A breakout from $58,000 could give the bulls a run at the 200-day and 50-day EMAs. Furthermore, a break above the 50-day EMA may support a move toward the $60,365 resistance level.
US economic data, sentiment toward the Fed rate path, and BTC-spot ETF market flow trends require consideration.
Conversely, a break below $55,000 could bring the $52,884 support level into play.
With a 48.23 14-day RSI reading, BTC may break below $55,000 before entering oversold territory.
The above is the detailed content of US Economic Calendar: Labor Market and Inflation in Focus. For more information, please follow other related articles on the PHP Chinese website!
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