Benzinga - by Ivan Crnogatić, Benzinga Editor.
Following the latest Personal Consumption Expenditures (PCE) data, the Federal Reserve’s preferred inflation metric, a veteran trader has pointed out the two main scenarios for Bitcoin (CRYPTO: BTC).
What Happened: Crypto trader EmperorBTC provided an update on the current state of Bitcoin’s price action: “No changes since last update — just my belief has solidified that we continue chopping for a few weeks,” he tweeted on Friday.
Bitcoin Price UpdateNo changes since last udpate – just my belief has solidified that we continue chopping for a few weeks.
Scenario 1: (main)
– We continue upwards and move level to level not giving sideliners an entry
– Price has to move quickly over the weekend and into… pic.twitter.com/JbnliOqwDN
— Emperor