Is bitcoin waiting the fed to move first?
In my opinion, the answer is yes. While most crypto bros relate Bitcoin to a safe-haven asset as it´s supply cannot be enlarged, I like to think of bitcoin as that as well but with the difference that not now, I believe that the real demand for bitcoin is yet to be seen, therefore is mostly correlated with high beta assets like tech stocks.
My bias is go long and accumulate, do not trade on it, especially not with a fed meeting coming up.
My final toughts are that is going to continue within the visible range for a while, entry points I like 35000 and 30000. If it crosses 42 again we will be probably saying good bye to the bear market and if it gets anywhere below 30000 there would be considerable pain in the near and medium term.
Position accordingly to your risk profile, live long and prosper!
My bias is go long and accumulate, do not trade on it, especially not with a fed meeting coming up.
My final toughts are that is going to continue within the visible range for a while, entry points I like 35000 and 30000. If it crosses 42 again we will be probably saying good bye to the bear market and if it gets anywhere below 30000 there would be considerable pain in the near and medium term.
Position accordingly to your risk profile, live long and prosper!
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