Hi Traders
Since the market is currently pricing in last nights Fed press release and institutions position themselves even more to a risk-off scenario, I expect Bitcoin to retest the 30k area. You can also see the change of sentiment in yesterdays daily candle. It will be important to not let yourself be fooled by choppy markets the next couple of weeks.
There is currently very few fundamental reasons why Bitcoin should not follow TradFi markets, no matter what some self-appointed experts will tell. Understand that in crypto, many people earn from being bullish.
Whether 30k will hold or not remains to be seen, but if I had to guess now I would say we will break that support area and go even lower. Could be a nice place opportunity to fill your bags.
Since the market is currently pricing in last nights Fed press release and institutions position themselves even more to a risk-off scenario, I expect Bitcoin to retest the 30k area. You can also see the change of sentiment in yesterdays daily candle. It will be important to not let yourself be fooled by choppy markets the next couple of weeks.
There is currently very few fundamental reasons why Bitcoin should not follow TradFi markets, no matter what some self-appointed experts will tell. Understand that in crypto, many people earn from being bullish.
Whether 30k will hold or not remains to be seen, but if I had to guess now I would say we will break that support area and go even lower. Could be a nice place opportunity to fill your bags.