Rocksorgate

✈️ BITCOIN TAKES ON THE FED'S HIKE! ✈️

Long
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Alright, I won't waste your time so let's just dig into this Important read and get going to what matters and what's going on!


BTC was trading higher on Wednesday, as bulls re-entered the market before the Federal Reserve's rate hike decision alongside the S&P 500 INDEX which are both experiencing this relatively large impulse movement and positive flow following the Fed's percent hike of half a percentage being the biggest hike in two decades as they seek to combat Inflation more aggressively signaling a market that could have perhaps found a bottom if bulls manage to sustain that pressure.


Bounce

In my last Idea which is linked below we called Bitcoin's short before it had it's dramatic drop down to $37,500 after which then we saw it just manage to break through to the $39,000 level before it slowly swooshed like a basketball back down to $37,500 before finding support once again and bouncing off it again as a Basketball does off the rebound. Alongside that rebound we've seen Bulls keep the pressure in not only Crypto but the Market as well with much of the Market rebounding off of the Quarter's low.

Support

Sometimes I wonder whether or not we are looking at real movement or simply whales/market makers taking advantage of the situation. I mean you take a look at the months chart alone and you can see how many time's we've moved perfectly between 37-40k bouncing up and down every time with whales accumulating a larger piece of the pie with every move. So it's always super interesting to see moments like this where we see these huge runups out of seemingly nowhere. But it happens though, 'just when you think the market's gonna give in, it puts it's fist up and give's a real fight'. I'm happy to see this support and time after time we see Bitcoin bounce back up with a real fight. I know many will keep or remain Bearish on crypto, for now at least. But personally, this month we've seen Bitcoin fight back so many times when Bulls could have just given up and let thinks plummet but our community is too good to give in. I'm long on Bitcoin and I'm looking forward to a positively good summer!

The Mountain

I love using the expression of mountains for the market as it honestly is a collage of mountain's being all the ups and downs we constantly experience which are simply a part of the fun. Once again our EMA has entered 'the mountain' and now we're seeing this massive movement up across the market in general again which is positive for sure, but we should also note that it'll be important to keep an eye in this case on EMA . Based on past price action whenever we have seen this situation unfold based on news we'll usually see a fall follow whenever Bulls can't keep the EMA within the mountain, buying pressure. I do think this time could be a bit different considering just how low of a point we've come down to and bounced off, with us seeing Bulls finally enter in force and keep that pressure to bring us back up above 40k.

Important:

As positive as I am on crypto this again could also just be a dead cat bounce being made on behalf of MM's. Sure it's the market bouncing, not just crypto. But when you take it into account it really isn't too out of the equation. Crypto for example: Whether the whale or Maker is trying to make the market go up or down, what they can do is simply buy a lot of the crypto, give off the false indication of a bounce with support and then sell their coin once a lot of investors have either 'bought back in' or opened futures positions getting the idea that this could be the real bottom. Think about it, these makers use Psychology and make their money based on how the market will react to things. Based on that you can just as easily trick it as we've seen happen anyway the past few weeks in Bitcoin alone. So don't let that escape your mind, don't FOMO or think this is simply the bottom. They will always have something in mind and do the opposite of what you may expect, so be wary and do your DD!

Falling Wedge

Bitcoin has been on a Falling wedge pattern since my April Idea in which I noted that we were likely to start to see a reversal back down following the huge impulse movement we'd seen that week. Later I'll be making another Idea with that wedge outlined for the larger time frame but with this movement we have broken out of the falling wedge pattern which is one of the reasons I'm positive with things. However just as well as the fact that we've broken out Bears could also dump on us in an attempt to bring us back down within that pattern which would undoubtedly make things harder to pull out of much like quicksand. So be aware of that but yes! We've broken out alas.

Closing:

I didn't want to take too long with this but I'm happy with how stuff is going, while it may seem a bit weird for the market to react this way to the highest interest rate hike in two decades it signifies the government dealing with the issue of inflation a lot sooner. Such means that we likely will have inflation woes out of the way sooner than later. It seems wrong but it makes perfect sense. It's never gonna be easy doing something that is needed, but not only is it needed, it'll help the economy and help to address the looming issue of inflation which has been the cause of most of the instability and relative 'havoc' we've seen going on in the markets. So I'm happy with it and again I always love seeing Bitcoin bounce back. It just gives me more and more confidence each and every time in it's strength and will not to give in. What to note is that I am positive right now on


Thank you for taking the time to join me to day and please leave a like and follow or share! Anything is appreciated but I always try my best with these and with each one I improve and give my all. I hope you can understand and please have an absolutely amazing day!


~ Rock