QCP Capital BTC Trading Recommendations Amid Sideways Market

IconCNT15 May, 2024

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QCP Capital BTC Trading Recommendations Amid Sideways Market

Singapore-based cryptocurrency trading firm QCP Capital analyzed that "BTC will break out of the sideways movement, depending on the US Consumer Price Index (CPI) to be announced on the evening of the 15th." Regarding this, QCP Capital explained that "the Producer Price Index (PPI) for April, announced by the US Department of Labor the previous day, exceeded the market expectations and the BTC price continues to move sideways despite the somewhat dovish speech by Powell, who ruled out a rate hike. The market is expecting a low CPI figure favorable to risk assets, and buying momentum will continue even if there is a short-term drop." QCP Capital then recommended a regular BTC buying strategy, adding, "If the BTC price is traded below $70,000 by August 2, we recommend buying BTC near $56,500 every week and regularly buying BTC at $56,000 every week if it is below $80,000 by September 27." Previously on 15 May 2024, Singapore-based cryptocurrency trading firm QCP Capital analyzed that "BTC will break out of the sideways movement, depending on the US Consumer Price Index (CPI) to be announced on the evening of the 15th." ---

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