$BTC dropped 8% last following Jerome Powell's hawkish messages at Jackson hole, stock market lost billions of dollars after the 8 minutes speech.
Inflation is getting out of control if central banks don't move aggressively and Powell know that, this is why he sounded so hawkish :
“We are moving our policy stance purposefully to a level that will be sufficiently restrictive to return inflation to 2%,” he said.
For more clarity one should wait for the next fed meeting in 21 September, 50bps hike is expected at least.
Technically, $BTC broke below the bear flag support and a new bearish impulse to the down side is expected next week as DXY soars while stock market continue going lower.
Take a look at DXY:
Take a look at $SPY:
Take a look at US100:
Inflation is getting out of control if central banks don't move aggressively and Powell know that, this is why he sounded so hawkish :
“We are moving our policy stance purposefully to a level that will be sufficiently restrictive to return inflation to 2%,” he said.
For more clarity one should wait for the next fed meeting in 21 September, 50bps hike is expected at least.
Technically, $BTC broke below the bear flag support and a new bearish impulse to the down side is expected next week as DXY soars while stock market continue going lower.
Take a look at DXY:
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TP hit 👍