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Tomorrow, on Wednesday, July 12 (15.30 GMT), the US Consumer Price Index (CPI) will be released.
Expected on an Annual Basis: 3.1% Previous: 4%
At the time of writing, Bitcoin is trading at $ 30,540.
It is inevitable that Bitcoin will make volatile movements in the time zone where the CPI data will be announced.
Important support for Bitcoin is at $29,800 and resistance is at $31,400.
The expected CPI data may allow Bitcoin to break the $31,400 level.
My expectation is that no matter how much the Fed tries to keep the Market and Bitcoin under control, it is about to break the Bitcoin Chains.
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