BTC bearish scenario

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
256 4 3
Lookin for a move on or around the FOMC announcement on the 17th. I'm leaning towards down unless it breaks that trendline . In the case that it dumps and breaks the 210 area this is my plan, we'll see how long it lasts, it's kind of elaborate, lol. There are many similarities to previous dumps in place right now. I'll elaborate if this starts proving itself. none of the the other FOMC meetings have impacting btcusd ever. Is there a reason why you would expect this time to be different ?
Jopendus IamNomad
Each of the last september events for two years now have correlated with big movements. Not that there aren't other things involved of course, but from what I see here there is an important relationship.
+1 Reply
IamNomad Jopendus
Correlation does not imply causation. even on your chart you see it midway through its move. even if your trade theory works , it doesnt work.
Jopendus IamNomad
that's why I used the word correlate.
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