BTC - last push to 29k and then down!
Updated
Here's a quick look at the 1 hr. BTC chart.
As we can see, the price is currently forming a bear flag, a bearish pattern, and a decisive move could be around the corner!
We may see a push to 29k to close the CME gap.
Any decision by the Federal Reserve to increase interest rates by 50 basis points would likely result in a considerable market downturn. So, it would be advisable to closely monitor the outcome of the upcoming FOMC meeting tomorrow.
The existence of CME- and Fair Value gaps below the current price implies an eventual downward correction. Moreover, the overall sentiment is not bullish, and the possibility of an unforeseeable black swan event remains!
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Key Dates to Watch in March:
21/22 Mar: FOMC Meeting
30 Mar: GDP Report
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Follow me for daily profitable trading setups.
BTC dictates the market. If BTC falls, then Alts will drop as well. Trade safe!
As we can see, the price is currently forming a bear flag, a bearish pattern, and a decisive move could be around the corner!
We may see a push to 29k to close the CME gap.
Any decision by the Federal Reserve to increase interest rates by 50 basis points would likely result in a considerable market downturn. So, it would be advisable to closely monitor the outcome of the upcoming FOMC meeting tomorrow.
The existence of CME- and Fair Value gaps below the current price implies an eventual downward correction. Moreover, the overall sentiment is not bullish, and the possibility of an unforeseeable black swan event remains!
-------------------------------------------
Key Dates to Watch in March:
21/22 Mar: FOMC Meeting
30 Mar: GDP Report
-------------------------------------------
If you like the content, then make sure to comment and like the post :D
Follow me for daily profitable trading setups.
BTC dictates the market. If BTC falls, then Alts will drop as well. Trade safe!
Comment
CME gap filled just before the FOMC meeting! - Just as expected! Comment
Broke below the bear flag!
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