If this week's inflation data and the Fed's reaction to the CPI report align with traders' expectations, a fresh recovery in Bitcoin and select altcoins could occur this week.
since April 9, even as Bitcoin’s price fell by roughly 10% during the period.
This positive view will invalidate in the near term if the price turns down and breaks below the moving averages. Such a move will suggest that the bulls are aggressively booking profits. The index could then tumble to the uptrend line.The U.S. Dollar Index skidded back below the 20-day exponential moving average of 103 on June 8, but the bears are struggling to sustain the lower levels.Buyers are trying to propel the price back above the 20-day EMA, which could start a rally to 104.
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