yesterdays FED-Statement dissapointed the Market since it priced in a step back by the FED with a possible statement about lowering upcoming rate-hikes aswell as the speed by Jerome Powell to fight inflation.
The worse the economy gets the more pressure is on Powell & Co to re-allocate the current circumstances.
However, Jerome was clearly Hawkish and has made clear its not time yet to think about it... This could cause a mid-term sell-off as the next steps will be discussed in December. YIELDS and so the US-Dollar pumped hard cuasing more risk-off in the market.
Technically we have a good short opportunity here.
Why are USDEUR and EURUSD so important for BTCUSD's price evolution in your opinion? (EUR being the main component of DXY) Correlation =/= Causality All national coins are perpetually going to zero and currently at the same rate we've seen in 75'. USD is just falling lower than other national coins against a global basket of goods.
JoeChampion
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Brilliant mate!
f4taL1ty
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Perfect bro
emrelg
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nice call jeremy
LUC_Capital
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Based on major trendlines, if it were not for the Fed injecting reality into the markets, BTC would have very likely made a move to 26K resistance IMO. The fact that it has yet to dump like the entire market has, similarly to the crash in April, means I'm looking for a huge move down, probably 13K-10K major support in the next months (unless of course macro data improves). Weekly TF also shows candles forming lower highs and lower lows. Not good news for bulls.
Correlation =/= Causality
All national coins are perpetually going to zero and currently at the same rate we've seen in 75'.
USD is just falling lower than other national coins against a global basket of goods.