Technical analysis by CryptoNicho about Symbol BTC on 3/12/2025

TechnicalsShort term 2hr chart is slightly bullish. RSI is above 50 showing slight bullish momentum, a couple of higher lows have lifted us out of the steep downtrend that formed over the weekend and the 81.5k support held when tested.It's the inflation data though that will determine if we have a green or red day.Overhead resistance is at 84.8k and then the 200MA at 85.7k. Support is at 81.5k and then at 78.4k.Low inflation, long to overhead resistance, high inflation short to supports.MacroEarly data drop today with the inflation numbers landing at 12.30 (GMT).It's pretty simple today the lower the better.Low inflation allows low interest rates, low interest rates are bullish for BTC.Forecast 3.2% = slightly bullish but priced in>3.2% = very bearish<3.2% = bullishHow bullish or bearish todays news is will depend on how close to (or far from) a rate cut it puts us.CME Fedwatch.com lets you see the odds of various upcoming rate decisions so we'll check this post announcement to see what the mid term and long term impact may be.Short term its going to take a big drop in inflation to give us a rate cut next week. The odds of that happening have dropped further to now only 3% chance.-Longer term the chances of inflation coming down were boosted by the start of the Ukraine / Russia peace protest. I think this helped the slight BTC recovery over the past 24 hours.