According to Followin news, On August 1, U.S. core PCE for June came in at 2.8% YoY—above both consensus and the revised prior value—marking the fastest pace of inflation since February. Headline PCE and personal spending also increased, pointing to renewed inflationary pressure. Meanwhile, labor market softness and stagnant real income continue to raise concerns of a broader economic slowdown. Markets now expect Friday’s jobs report to confirm weakening hiring momentum, adding uncertainty to the Fed’s policy path.
Technically, BTC is testing the apex of a descending triangle on the daily chart, where a confluence of trendline resistance and horizontal support converge. The $118,500–$118,800 zone remains the key short-term resistance, while $116,300 stands as a solid support level. Heatmap data also shows concentrated buy-side liquidations near $117,000, confirming underlying support. However, sell pressure around $120,000 remains heavy.
Bitunix Analyst’s View:
The uptick in PCE adds inflation uncertainty, while markets await new tariff announcements from Trump. BTC is approaching the apex of a narrowing triangle and may soon face a directional breakout. Traders are advised not to chase prices. Wait for confirmation—either a breakout above $118,800 or a breakdown below $116,300—before positioning.
