Bitcoin price today: sticks near $109k as traders await tariff fallout
The 10-year notes market made a big reversal today following the CPI data. This move could continue following the US retail sales tomorrow as economists are expecting a downtick in US consumer spending.
We are far from a reversal, but given the big "outside day" bullish reversal candle near key long-term support near the 109'00 level, we could see a much bigger reversal unfold in the market.
Two days ago, the chart of the day was the USD/CNH and the correlation of yields in the 10-year and 30-year markets.
If the above holds true, we could see a reversal lower in the USD/CNH and perhaps the broad US Dollar market as well.
To be extra sure that a key reversal is developing, we would be looking for a move back above the 50dma, which capped the rally on Friday, September 1st.
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