The Fed announced its interest rate decision at 2 a.m. It was as expected: no hike and no cut.
#BTC The market wicked up and down by 500–600 points. Looking at the trend, it probably won't drop much in the short term. It could wick up to 82,000 tomorrow, or, if it moves more aggressively, reach around 82,700. Personally, I don't think it can get above 83,000, so the higher time frame still points to a short. If it breaks above that level, I'll hedge; if it then pulls back and breaks below 83,000, I'll close the hedge long and keep holding the higher-timeframe short.
I'm planning to add to my position tomorrow if it rises back into the 82,500–83,000 range. My initial short is at an average price of 80,900. I'll keep adding if it rises, then hold the position—I won't be closing it anytime soon.
#BTC The market wicked up and down by 500–600 points. Looking at the trend, it probably won't drop much in the short term. It could wick up to 82,000 tomorrow, or, if it moves more aggressively, reach around 82,700. Personally, I don't think it can get above 83,000, so the higher time frame still points to a short. If it breaks above that level, I'll hedge; if it then pulls back and breaks below 83,000, I'll close the hedge long and keep holding the higher-timeframe short.
I'm planning to add to my position tomorrow if it rises back into the 82,500–83,000 range. My initial short is at an average price of 80,900. I'll keep adding if it rises, then hold the position—I won't be closing it anytime soon.
