Bitcoin price could see a minor run-up to retest the recent broken, bearish setup. This development is likely to influence Ethereum, Ripple and other altcoins to do the same. Regardless, investors need to stay focussed on the mid-term outlook, which is still pessimistic. Investors need to be cautious as September’s US Consumer Price Index (CPI) numbers will be announced on October 13 at 12:30 GMT. While the expectation is 8.2%, which is lower than the previous month’s 8.3%, an upside surprise would send the markets into a tailspin as it would confirm expectations for steeper Fed rate hikes. Regardless of the direction, investors should prepare for a surge in volatility tomorrow.
Bitcoin price trend offer mixed signals as to the direction in which BTC is headed. On-chain analysts at Jarvis Labs believe Bitcoin’s next move relies on the performance of US equities. Bitcoin price could plummet and hit the downside target of $16,900 in the short-term.
Analysts have evaluated the Shiba Inu price trend and revealed a short-term bearish outlook. The Dogecoin-killer is struggling to recover from the decline below the $0.00001075 level. Analysts at FXStreet shared their outlook and strategy for a swing trade in Shiba Inu in the following video:
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