Watching on the Fed

Morning folks,

So, our recent "222" Sell has worked, but this is not the major point right now. BTC has formed slightly new bottom, that opens road to deeper retracement within next week. As other markets across the board mostly expect dovish statement from the Fed today, BTC could join this party, if indeed they will be so. It makes us think about upside action to 12.1K area but then for deeper retracement, back to the lows. All this stuff could take the shape of H&S.

If Powell will tell something, or hint on inflation etc - this will be not dovish comments and BTC could drop immediately without any H&S. So, today unfortunately not everything in our hands.

Forming of H&S and deeper retracement doesn't break yet medium-term bullish context, as H&S target stands above 10.50K lows. So it is just slightly deeper retracement inside longer-term bullish tendency by far.