“By the end of summer we will get out of the range of $22,400 - 17,600” - KickEX analysts

According to the latest report, the US inflation rate for June is currently 9.1%. This has only happened 12 times in the country over the past 110 years. Previous rate increases of 0.75% did not have an effect, so now with a probability of 82% an increase is expected immediately by 1% to a range of 2.5% - 2.75%, which is an extremely negative factor for the growth of the main asset.

The reduction in the emission of stablecoins continues, after the story with LFG and their stablecoin UST, we see a decrease of 40 billion in dollar equivalent, which led to the so-called liquidity crisis and mass bankruptcy of key players in the cryptocurrency world.

Now we can see a continuation of the accumulation of positions in the range of $22,400 - 17,600, exit from which will signal a reversal. If we take the previous accumulation of 2021 as an example, we can expect that by the end of summer we will still get out of the above range.

On a shorter time frame we see the development of an upward movement to the upper limit of the range.

Scenarios for further development events:

Scenario 1:continuation of the upward movement with a possible breakdown of the upper limit of the range of $23,000;

Scenario 2: return to the lower limit of the range and the levels of $18,600, $17,600.