[09/22] Beast Trading _ Today's Bitcoin Analysis
About eight hours ago, there was a FOMC announcement.
The interest rate hike was 75bp (GiantStep), which came as expected.
The general announcement is that the labor market is fine, but prices need to be watched a little more, adding that the goal is to raise 125bp by the end of the year.
At the time of the announcement, NASDAQ and Bitcoin moved very sharply, and after the announcement, they eventually started to fall, and NASDAQ led them to leave the bottom, and then Bitcoin left the bottom.
Analyzing with Elliott waves, there could be a big drop.
Assuming that the impulse drop wave started from 22.8k, the abc wave appeared in the 2 and 3-2 shown in the middle, and there is a possibility that it will fall to 3-3 par starting with the FOMC announcement yesterday.
It's just one of the perspectives, but in this case, I think we should be a little careful in the long position because there is a possibility that it will not only leave the low point of 17.6k, but also go below that due to the panic cell.
If you leave the most important line 17.6k, you don't know how far you'll fall because there's no big line or support line at the bottom.
Always check 17.6k, and the market is very difficult because the beat is currently located in an ambiguous position.
If the position you thought of doesn't come, I recommend you not to enter the position.
About eight hours ago, there was a FOMC announcement.
The interest rate hike was 75bp (GiantStep), which came as expected.
The general announcement is that the labor market is fine, but prices need to be watched a little more, adding that the goal is to raise 125bp by the end of the year.
At the time of the announcement, NASDAQ and Bitcoin moved very sharply, and after the announcement, they eventually started to fall, and NASDAQ led them to leave the bottom, and then Bitcoin left the bottom.
Analyzing with Elliott waves, there could be a big drop.
Assuming that the impulse drop wave started from 22.8k, the abc wave appeared in the 2 and 3-2 shown in the middle, and there is a possibility that it will fall to 3-3 par starting with the FOMC announcement yesterday.
It's just one of the perspectives, but in this case, I think we should be a little careful in the long position because there is a possibility that it will not only leave the low point of 17.6k, but also go below that due to the panic cell.
If you leave the most important line 17.6k, you don't know how far you'll fall because there's no big line or support line at the bottom.
Always check 17.6k, and the market is very difficult because the beat is currently located in an ambiguous position.
If the position you thought of doesn't come, I recommend you not to enter the position.
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.
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.