That Bitcoin doesn't care about the CPI index of the USA but by all means, headlines sell.
Discussion
well, i do like to believe in reasons for things.
Me too and the rejection at the 100 MA is the reason why Bitcoin has gone down again, a little. Not the CPI data.
ah, so is this considered "TA" or is this an advanced TA that is more macro?
or do algorithms and bots nowadays make TA basically happen?
95% of the so called "retail orderbook" is bot traded and bots trigger when the conditions are met. It's really that simple.
and in this case, the bots are just looking at Moving averages and rejections, etc?
It's a constant game of supply vs demand and support vs resistance. whichever site dominates is setting the direction. Also, there is nothing macro about the image in the original note. It's clearly zoomed in to make a point.