A technical analysis pattern that is hinted at Tyrvejs has appeared on Bitcoin’s (BTC) daily price diagram as market participants look at Wednesday’s US inflation data to put a floor under risk assets.

BTC has recently beaten a battle that fell from $ 100,000 last month to less than $ 80,000 this week due to several factors, including risk aversion on Wall Street, concerns about Trump’s Customs and US Recession Fear. The disappointment of the lack of fresh BTC purchases under Trump’s strategic reserve plan added to the downward momentum.

As prices fell to low months low level below $ 80,000 on Tuesday, the relative strength index (RSI)-a broad Momentum oscillator-not confirmation of this fall confirmed. The indicator produced a higher low, contradictory the lower low on the price diagram and confirmed what is known as the Bullish RSI divergence.

It indicates that although the price goes down, the momentum behind the sale is weakened, which potentially signalizes an upcoming turn to a bullish trend.

The pattern could not have come at a more interesting time than today, as the US consumer prize index for February, which is planned for release at 1 p.m. 12:30 UTC, is expected to show progress. BTCS Bullish Divergence of RSI means that the scene is set to a positive response to a potentially soft reading.

According to CNBC, the data is expected to show that the heading CPI and the core figure, excluding food and energy, increased by 0.3% month to month in February. This involves an annual reading of 2.9% for the heading CPI and 3.2% for the core, both 0.1 percentage points lower than in January.

“Tonight’s CPI print could set the tone of interest expectations as the markets now prices in four fat cuts this year, up from only one in January. Will inflation data validate this shift or bring fresh turbulence?”