BTC back at the neckline (FOMC)
With BTC back at the neckline of this potential double top, I would play very close attention to divergences on lower TF for exit liquidity mini pumps.
Usual Macro economic bullish sentiment #FOMC mini cycle:
1) Fed is gonna pivot guys - LFG bull market is back
2) ooops; FED is not done - dump
3) buy it back up so that retail can come in
4) retail: hmmm; its not so bad after all; kets get in before its too late.All influencers saying bottom is in
5) another exit liquidity dump by smart money
6) rinse and repeat
Sorry if I sound pessimistic here but the macro is talking volumes and if you paid attention to the #FED's news conference, there is an uphill battle to fight inflation with no signs of dovishness anytime soon.
This is not the time to FOMO. play it safe.
NFA ofc
Usual Macro economic bullish sentiment #FOMC mini cycle:
1) Fed is gonna pivot guys - LFG bull market is back
2) ooops; FED is not done - dump
3) buy it back up so that retail can come in
4) retail: hmmm; its not so bad after all; kets get in before its too late.All influencers saying bottom is in
5) another exit liquidity dump by smart money
6) rinse and repeat
Sorry if I sound pessimistic here but the macro is talking volumes and if you paid attention to the #FED's news conference, there is an uphill battle to fight inflation with no signs of dovishness anytime soon.
This is not the time to FOMO. play it safe.
NFA ofc
BiloCrypto
Related publications
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.