Watchout for whatever the Fed rate meeting will say tomorrow
Hi,
Not going to discuss much TA as I generally think that DENT during this downtrend really tried to push upward, however BTC humongous downtrend didn't quite allow it.
Tomorrow at 2pm the feds will release their statement, product of a 2 days meeting to discuss whether they will or they will not fight inflation back, quantitative easing, bonds, interest rates, etc.
Seems irrelevant as crypto assets, one would think, would be an edge against traditional and centralized finance, but sadly it doesn't quite seem so.
One hypothesis is that there are now 2 types of investors in the crypto space: long term hodlers that have high regards for crypto assets and wall-street type investors who have more interest in regular markets and are more sensitive to these type of events. But I digress.
I have no faith in any positive outcome from this Fed Talk, so BTC is likely capitulating once more, and alt-coins with it.
T1 is very optimistic,
T3 is a possibility.
(note: T1 and T3 are in line with 2 different Gann fans, as they both have some historical relevance.
T2 is, on the other hand, the July 2021 bottom, therefore an interesting target between those 2.
If this dump comes, a quick recovery might not be unrealistic, as, once again, indicators are already quite "off", but we'll see.
One last note, if you're thinking that this is the bottom and are pondering a leveraged long, wait to see how the market will react with tomorrow news. Don't get liquidated!
Not going to discuss much TA as I generally think that DENT during this downtrend really tried to push upward, however BTC humongous downtrend didn't quite allow it.
Tomorrow at 2pm the feds will release their statement, product of a 2 days meeting to discuss whether they will or they will not fight inflation back, quantitative easing, bonds, interest rates, etc.
Seems irrelevant as crypto assets, one would think, would be an edge against traditional and centralized finance, but sadly it doesn't quite seem so.
One hypothesis is that there are now 2 types of investors in the crypto space: long term hodlers that have high regards for crypto assets and wall-street type investors who have more interest in regular markets and are more sensitive to these type of events. But I digress.
I have no faith in any positive outcome from this Fed Talk, so BTC is likely capitulating once more, and alt-coins with it.
T1 is very optimistic,
T3 is a possibility.
(note: T1 and T3 are in line with 2 different Gann fans, as they both have some historical relevance.
T2 is, on the other hand, the July 2021 bottom, therefore an interesting target between those 2.
If this dump comes, a quick recovery might not be unrealistic, as, once again, indicators are already quite "off", but we'll see.
One last note, if you're thinking that this is the bottom and are pondering a leveraged long, wait to see how the market will react with tomorrow news. Don't get liquidated!