P_S_trade

πŸ”₯BITCOIN price SP500 FOMC-Fed Funds Rate. Next week will be hot

WHITEBIT:BTCUSDT   Bitcoin / Tether US
Earlier this week, we published a possible trade for BTCUSDT . It is still in the process of being worked out.
The trade was based on the assumption that sellers would make every effort to protect the $25k area from an upward breakout. And it is justified and logical to cover at least part of the long positions in this zone.

But looking at the weekly candlesticks , we can see that the growth is only accelerating.
If buyers manage to break the stops of shorts above $25,000, this may provide additional fuel for a sharp 1-2 day impulse to the $27500-28,000 area.
And after a correction to the $20,000 area is possible, and theoretically, this will not be bad for the future growth trend.

We would also like to remind you that on 01 /02/2023, the FOMC will meet to announce the new Fed rate. The forecast is +0.5%.
It is difficult to predict how the markets will react, but increased volatility in the markets will be guaranteed.
And at this point, We would like to remind you that sitting without a position is also a position and perhaps the most difficult position)

The SP500 index is on the verge of an upward breakout, but even traders by large companies included in this index are waiting for what the Fed will say. Therefore, in our opinion, it is worth keeping an eye on two possible scenarios.

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