The price of Bitcoin (BTC) at the beginning of this week is $66,594, down from last week’s $69,358. The next higher resistance levels are at $67,718 and $68,541. The next lower support levels are observed at $65,138 and $60,931, as determined by Fibonacci indicators.
Market-Moving Events to Watch for This Week
Key macroeconomic events this week may influence Bitcoin prices. Here’s a summary:
- Tuesday, June 18. EU CPI (YoY) (Expected value: 2.6%): A reading in line with expectations may suggest stable inflation in the EU, potentially supporting Bitcoin prices.
- Tuesday, June 18. USA Retail Sales (MoM) (May) (Expected value: +0.3%): Strong retail sales growth may indicate consumer confidence, possibly boosting Bitcoin prices.
- Thursday, June 20. UK BoE Interest Rates (Expected value: 5.25%): Any changes in the BoE interest rates may affect market liquidity, impacting Bitcoin trading volumes.
- Thursday, June 20. USA Initial Jobless Claims (Expected value: 235K): Lower-than-expected jobless claims may signal economic strength, potentially attracting more investment into Bitcoin.
- Friday, June 21. Fed Monetary Policy Report: This report may provide insights into future Federal Reserve actions, particularly regarding interest rate cuts expected in 2024 and 2025. Market interpretations of this report may significantly impact Bitcoin prices.
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Disclaimer
It’s important to note that the information provided is not intended as financial advice. The views expressed here solely represent the writer’s opinion based on the outlined market events. As with any investment, conduct thorough research and consider personal circumstances before making decisions in the volatile world of cryptocurrencies.
