The macro hawks have shown all their cards, and crypto is still stubbornly pumping? Listen up, folks—don’t be fooled. This whole rally is mostly smoke and mirrors.
The FOMC held steady last night, but old man Warsh was still talking tough. Add in two dissenting votes, and there’s a good chance we’ll get another rate hike in December. By all logic, the macro backdrop is bearish. Yet Bitcoin and Ethereum are rising instead of falling. It looks like a party, but it’s pretty flimsy.
Take a look at the charts right now—both bulls and bears are playing games:
$BTC ** surged to **81,800** last night, only to get slammed back down to **81,136**. On the 1-hour chart, the MACD red bars look ready to shrink away, and there’s simply not enough volume to push the price higher.
$ETH # is much the same. It briefly wicked up to 2,391, then lost steam, and the price has now slipped back to 2,354. On the 15-minute chart, the death cross is widening, with the green bars getting bigger. The J value has dropped to 13. It’s oversold, sure, but the moving averages overhead are like a steel ceiling.
To put it plainly, this is a textbook low-volume technical rebound. The big players are all watching from the sidelines—they haven’t even gotten in the water. It’s just short-term traders picking each other’s pockets.
Remember this: a rally on no volume is just a scam.
I reckon this low-volume bounce will just drag on until early November. I’m not chasing this fake move. If BTC breaks below 80,355 (or even goes looking for 79,468), or ETH falls below 2,321, I’ll stay out of the market and watch from the sidelines.
This low-volume bull trap—did you manage to keep your hands off, or did you rush in hotheaded and try to catch a falling knife? Let’s talk in the comments 👇
#FOMC #InflationData
💡This is just my personal trading journal. Don’t blindly follow my trades—the market makers are ruthless, and I’m not responsible for any losses 😂##109亿美元比特币期权周五到期 #比特币突破8.1万美元
The FOMC held steady last night, but old man Warsh was still talking tough. Add in two dissenting votes, and there’s a good chance we’ll get another rate hike in December. By all logic, the macro backdrop is bearish. Yet Bitcoin and Ethereum are rising instead of falling. It looks like a party, but it’s pretty flimsy.
Take a look at the charts right now—both bulls and bears are playing games:
$BTC ** surged to **81,800** last night, only to get slammed back down to **81,136**. On the 1-hour chart, the MACD red bars look ready to shrink away, and there’s simply not enough volume to push the price higher.
$ETH # is much the same. It briefly wicked up to 2,391, then lost steam, and the price has now slipped back to 2,354. On the 15-minute chart, the death cross is widening, with the green bars getting bigger. The J value has dropped to 13. It’s oversold, sure, but the moving averages overhead are like a steel ceiling.
To put it plainly, this is a textbook low-volume technical rebound. The big players are all watching from the sidelines—they haven’t even gotten in the water. It’s just short-term traders picking each other’s pockets.
Remember this: a rally on no volume is just a scam.
I reckon this low-volume bounce will just drag on until early November. I’m not chasing this fake move. If BTC breaks below 80,355 (or even goes looking for 79,468), or ETH falls below 2,321, I’ll stay out of the market and watch from the sidelines.
This low-volume bull trap—did you manage to keep your hands off, or did you rush in hotheaded and try to catch a falling knife? Let’s talk in the comments 👇
#FOMC #InflationData
💡This is just my personal trading journal. Don’t blindly follow my trades—the market makers are ruthless, and I’m not responsible for any losses 😂##109亿美元比特币期权周五到期 #比特币突破8.1万美元
