Bitcoin bulls seem to be painting a trap going into Fed announcement today and with many altcoins already painting lower highs this seems to confirm the case. If the downtrend channel is to remain intact and the bottom is going to be at the 13K macro cycle level which is needed to reset the whole structure then this is a possible route Bitcoin may take given that there is significant support at 30 K or the Michael Saylor line and then again at 20K being the previous ATH set in the 2017. The 200 Weekly MA is just below the 20k support level which should also act as an area where bulls will be placing bids. Today is a day not to trade but simply await the Fed announcement and act accordingly.
Trying to get enough community point so we may engage constructively in the chat. Any support would be greatly appreciated. Thank you very much in advance.
Trying to get enough community point so we may engage constructively in the chat. Any support would be greatly appreciated. Thank you very much in advance.