Bitcoin enjoyed a significant relieve rally last week that resulted to the formation of a Bull Flag on the 4H chart.
However, Bitcoin has closed below the 200-week moving average as the crypto market anticipates the outcome of Fed FOMC meetings this week July 26-27.
Bitcoin below the 200-week MA suggests bearish sentiment.
Macroeconomics Bearish Signals:
-High inflation .
-Hawkish Interest rate hike @ the FED FOMC meetings, July 26-27.
-Quantitative tightening.
-Russia-Ukraine war.
Noteworthy:
Do not forget the historical wise saying, "Never invest more than you can afford to lose."
Not a financial advise, I suggest using this only as a guide - Do your own research.
Let us know what you think about this subject in the comments section below.
Kindly support this idea with your like and comment, thank you.
However, Bitcoin has closed below the 200-week moving average as the crypto market anticipates the outcome of Fed FOMC meetings this week July 26-27.
Bitcoin below the 200-week MA suggests bearish sentiment.
Macroeconomics Bearish Signals:
-High inflation .
-Hawkish Interest rate hike @ the FED FOMC meetings, July 26-27.
-Quantitative tightening.
-Russia-Ukraine war.
Noteworthy:
Do not forget the historical wise saying, "Never invest more than you can afford to lose."
Not a financial advise, I suggest using this only as a guide - Do your own research.
Let us know what you think about this subject in the comments section below.
Kindly support this idea with your like and comment, thank you.