Something to take in about the current market situation: Reas | OO7 Signals 🔫

Something to take in about the current market situation:

Reason of Dump:
First of all, ignore 80% of telegram TA analysts as most BTC TA is absolutely useless in the current market situation and on top of that some of them just bullshit.

Crypto is currently getting nuked cause of the global economy situation. It just follows the stock markets, especially US stock markets like nasdaq/sp500. So basically we can stop watching any BTC charts and just focus on the stock charts for now.

The biggest reason for this dump is the inflation in the US and the measures to fight those. The CPI which was released on Friday was the highest since long time, hence the dump.

Due to that, I expect BTC to even dump more the coming days. If the CPI next month is another ATH, well good night then.

How/when bounce?
Best what could happen is a good CPI release in July and NO new ATH. From then on we would probably stop dumping/ stabilize for a while (like we did 2-3 weeks ago at around 30k).
Then the CPI release in August will be as important as the one 2 days ago - if that one is also good and shows that Inflation is declining then I can see the markets going up again. Probably might have a very similar chart on BTC like we had in 2021

So yeah, this CPI release on Friday made me super bearish shortterm. Prepare for the worst and be ready once things look brighter