BTC dropped 8% last following Jerome Powell's hawkish messages at Jackson hole, stock market lost billions of dollars after the 8 minutes speech.Inflation is getting out of control if central banks don't move aggressively and Powell know that, this is why he sounded so hawkish :
“We are moving our policy stance purposefully to a level that will be sufficiently restrictive to return inflation to 2%,” he said.
For more clarity one should wait for the next fed meeting in 21 September, 50bps hike is expected at least.
Technically,
BTC broke below the bear flag support and a new bearish impulse to the down side is expected next week as DXY soars while stock market continue going lower.Take a look at DXY:
Take a look at
SPY: Take a look at US100:
Trade closed: stop reached
TP hit 👍
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.