Hello Traders,
Looking at TA and other Crypto I believe a down move is at hand..before more than likely more up Oct/Nov into EOY.
Here I like some possible targets and timing based on what BTC did earlier this year. the 20SMA just crossed the 100 SMA as circled...same as it did earlier this year before a big downmove shortly there after. Rate cut could certainly change things... but if the ratecut is large .50 and because of a deteriorating job market/economy that could certainly change how risk off assets act with a rate cut... Instead of being bullish it could be bearish. We will have to see how Job numbers come in Tuesday which I think could be the catalyst for everything to move down into the rate cut. We will find out soon
Looking at TA and other Crypto I believe a down move is at hand..before more than likely more up Oct/Nov into EOY.
Here I like some possible targets and timing based on what BTC did earlier this year. the 20SMA just crossed the 100 SMA as circled...same as it did earlier this year before a big downmove shortly there after. Rate cut could certainly change things... but if the ratecut is large .50 and because of a deteriorating job market/economy that could certainly change how risk off assets act with a rate cut... Instead of being bullish it could be bearish. We will have to see how Job numbers come in Tuesday which I think could be the catalyst for everything to move down into the rate cut. We will find out soon
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.