Tonight, the US Fed will announce its rate decision. The probability of a 25bp hike is 89%—it’s basically a done deal. The market has already priced it in for the most part. Most importantly, it’s all about what Waller says.
1. If the remarks are hawkish—hinting that there will be another rate hike later this year—then it’s a straight drop. BTC should go to 72,500, and ETH to 2,200.
2. If the remarks are dovish—this rate hike is a one-time move—then it’s bearish news that has already been priced in, and the market should take off. BTC should look at the 80,000 resistance level, and ETH at 2,650.
Brothers, my suggestion is to stay in cash and wait until 2:00 a.m.
1. If the remarks are hawkish—hinting that there will be another rate hike later this year—then it’s a straight drop. BTC should go to 72,500, and ETH to 2,200.
2. If the remarks are dovish—this rate hike is a one-time move—then it’s bearish news that has already been priced in, and the market should take off. BTC should look at the 80,000 resistance level, and ETH at 2,650.
Brothers, my suggestion is to stay in cash and wait until 2:00 a.m.