Here's what happened when FOMC last aligned with the $BTC range low.
Traders keep buying every dip around these events only to get wrecked when it dumps one more time before reversing. Not knowing when to actually enter or exit around FOMC has cost people real money in $ETH and $BTC alike.
Looking at the last FOMC in this range, price marked a local bottom and pumped about 16% within days. There was a 4% drop the day before it found support.
Currently two days before the October 28-29 meeting. The pattern points to a possible breakdown tomorrow, the day prior, flushing positions before any bounce.
The risk is getting caught in that flush. If it doesn't reverse like last time, $ETH could drag lower with $BTC and even $BNB pairs might see extra volatility. Plenty of people are focused on the meeting itself and overlooking how these events often start with a shakeout.
Where do you think this goes if that one-day-before dump hits?
#Bitcoin #FOMC #Crypto
Traders keep buying every dip around these events only to get wrecked when it dumps one more time before reversing. Not knowing when to actually enter or exit around FOMC has cost people real money in $ETH and $BTC alike.
Looking at the last FOMC in this range, price marked a local bottom and pumped about 16% within days. There was a 4% drop the day before it found support.
Currently two days before the October 28-29 meeting. The pattern points to a possible breakdown tomorrow, the day prior, flushing positions before any bounce.
The risk is getting caught in that flush. If it doesn't reverse like last time, $ETH could drag lower with $BTC and even $BNB pairs might see extra volatility. Plenty of people are focused on the meeting itself and overlooking how these events often start with a shakeout.
Where do you think this goes if that one-day-before dump hits?
#Bitcoin #FOMC #Crypto
