๐ BITCOIN ANALYSIS โ 4H
Bitcoin has broken below the support zone faster than I expected. ๐
However, itโs still too early to draw a clear conclusion.
๐บ๐ธ The FOMC decision is coming today, so volatility could remain extremely high around the announcement. Markets are heavily pricing a rate hike, while the Fedโs forward guidance may be even more important for BTC.
๐ฏ๐ต On top of that, the BoJ is expected to decide on rates on September 17โ18, with markets pricing a strong chance of a hike.
๐ป My view: With this macro backdrop, Bitcoin could remain under pressure and potentially move lower โ but FOMC volatility can invalidate short-term setups quickly.
Donโt chase the volatility. โ ๏ธ
#BTC #bitcoin #FOMCโฌโฉ #crypto #BinanceSquare
Bitcoin has broken below the support zone faster than I expected. ๐
However, itโs still too early to draw a clear conclusion.
๐บ๐ธ The FOMC decision is coming today, so volatility could remain extremely high around the announcement. Markets are heavily pricing a rate hike, while the Fedโs forward guidance may be even more important for BTC.
๐ฏ๐ต On top of that, the BoJ is expected to decide on rates on September 17โ18, with markets pricing a strong chance of a hike.
๐ป My view: With this macro backdrop, Bitcoin could remain under pressure and potentially move lower โ but FOMC volatility can invalidate short-term setups quickly.
Donโt chase the volatility. โ ๏ธ
#BTC #bitcoin #FOMCโฌโฉ #crypto #BinanceSquare
