BTC weekly update and what i think price is going to do
hello everyone
There are a large amount of central banks announcing their interest rate increases in the next 4 hours
The market has priced in a 75bp increase in the US, and a 100bp looks likely.
I think that the fed will do the expected 75, and markets could see a short lived ralley if that happens.
If it is a 100bp increase, then markets will tank.
Unlikely a move less than 50bp, but this would see the markets ralley in the short term.
The weekends generally have low to no institutional buyers, and its only retail.
If btc ends the week at 17323 or above, we could see a rally to about 19500
once we start closing below 17323 i would expect lower targets to the downside.
So these are my targets and lines i am looking at.
I dont think that btc goes above 20240 (or by much)
A Retest of the top trend line at 19500 during the weekend.
Next week i think the markets will be at new lows...
I think it makes sense for all the models for btc to break, as btc has never been in a macro stock market recession.
NFA. Im just a guy on the internet drawing pretty lines on my pc
There are a large amount of central banks announcing their interest rate increases in the next 4 hours
The market has priced in a 75bp increase in the US, and a 100bp looks likely.
I think that the fed will do the expected 75, and markets could see a short lived ralley if that happens.
If it is a 100bp increase, then markets will tank.
Unlikely a move less than 50bp, but this would see the markets ralley in the short term.
The weekends generally have low to no institutional buyers, and its only retail.
If btc ends the week at 17323 or above, we could see a rally to about 19500
once we start closing below 17323 i would expect lower targets to the downside.
So these are my targets and lines i am looking at.
I dont think that btc goes above 20240 (or by much)
A Retest of the top trend line at 19500 during the weekend.
Next week i think the markets will be at new lows...
I think it makes sense for all the models for btc to break, as btc has never been in a macro stock market recession.
NFA. Im just a guy on the internet drawing pretty lines on my pc