Hi Traders,
An update for BTC, we can see the upward momentum has sharply dropped on the CPI news - that was to be expected. But is also positive for another pump upward given how sharp the move was, a slow bleed would lend to holding shorts but the quick dump suggests MM may want to send price back upward again for the real final moments before a cliff dive below supports.
Now the markets next big hurdle is the FED rate decision on the (20th-21st), 75 or 100 points?
75 is expected but 100 would certainly be the next catalyst for major selling to continue ie. below 17k. So we wait for that news before resuming shorts.
Right now we have another long opportunity. The technicals are showing the downward move is under way but the next phase is the fake-out upward swing to trap bulls back up near the 23k-25k area.
Long trade for BTC
ENTRY - (20350 to 20500)
SL 20120
TP1 zone (23-24k) 60%
TP2 zone (24.3-25.3k) 40%
Goodluck,
Asset Mastery
An update for BTC, we can see the upward momentum has sharply dropped on the CPI news - that was to be expected. But is also positive for another pump upward given how sharp the move was, a slow bleed would lend to holding shorts but the quick dump suggests MM may want to send price back upward again for the real final moments before a cliff dive below supports.
Now the markets next big hurdle is the FED rate decision on the (20th-21st), 75 or 100 points?
75 is expected but 100 would certainly be the next catalyst for major selling to continue ie. below 17k. So we wait for that news before resuming shorts.
Right now we have another long opportunity. The technicals are showing the downward move is under way but the next phase is the fake-out upward swing to trap bulls back up near the 23k-25k area.
Long trade for BTC
ENTRY - (20350 to 20500)
SL 20120
TP1 zone (23-24k) 60%
TP2 zone (24.3-25.3k) 40%
Goodluck,
Asset Mastery
