The crypto market saw liquidations of about ~$570 million after the Senate rejected the CLARITY Act, pushing Bitcoin to 4-week lows and Ethereum to around $2,400. Leave a like 💚 and share with other traders 🙌🏼
🏦 Anticipation ahead of the Federal Reserve Markets operate with caution, awaiting the Fed's decision (a 93% probability is expected for a 25 bp rate hike), while the dollar and other currencies wait for the agency's comments.
#ETH On the daily chart, we can observe that Ethereum attempted to break above the 2560 resistance on two occasions, but was unable to sustain the breakout and ultimately pulled back to the 2360 support. It is likely that buyers will continue entering the market near the support, with a defined risk below it, in order to keep searching for a breakout above the resistance. Sellers, on the other hand, will want to see the price fall below the support to take advantage of the decline toward the important uptrend line around the 2100 level.
#Bitcoin En 4 hours shows a confirmed breakout from the consolidation range, with the current price at 76,068.48 $ This indicates that selling pressure dominates, increasing the risk of a deeper correction if key levels are not reclaimed.
#The minimum of $74,888 is the key level to watch because if the breakdown is confirmed with a daily candlestick close below it.$$Relevant institutional activity is near $70,000.
The macro move: when oil rises, it reflects inflationary pressure or changes in risk appetite, which affects how investors allocate capital among assets. Observe whether this dip is normal trend correction or institutional rejection of the proposed regulation. The volume and the price behavior near key support levels will tell you a lot