Bear flag for bitcoin a 9% dump might be in cards if 60.000$ support zone is lost .

#Bitcoin currently has cascading resistances on 1 hour TF, 20 MA 61,900$, 50 MA 62,800$ and 200 MA 64,300$, the 1 hour chart looks weak and may follow another downward wave if it does not hold the support at $60,600
In this context, I will position myself with pending orders at $57,500 and another order at $54,700

This correction is not yet over, not until bitcoin recovers 63.800$ , the support is now 60.200$ , if bitcoin lose that region the next level is at 57.000$

Market behavior in the Bull Market, not everything booms at the same time, some projects boom early, some will boom late, there will be projects that will not perform.
Many people will buy too expensive, others will be rich only on paper, some will sell way too fast. It was like that in 2017 and in 2021 and it will be like that in 2024 at the end

Retail crypto buyers are not here yet ! Why ? Too cheap , wait for bitcoin price to climb above 80.000$ and then they will come

Logic exercise, #Bitcoin
Short positions of 2.8 billion can be liquidated if Btc rises to $68,000
Long positions of 700 million can be liquidated if btc reaches $61,000
What would be logical to happen 😎

February 28, 2018 Balckrock said that Bitcoin investors must be prepared in case they could lose everything, now they also own 362,000 Bitcoins over $20 billion

It broke the #bitcoin resistance at $64,600, it confirmed as support for the previous 1 hour the resistance, it exceeded $66,000, as long as it does not go below $64,700 we have
as well as target $68,200

The market looks Bullish, $64,800 seems to be the barrier that keeps us away from $68,000, if it breaks $64,800 #bitcoin I think the rest is a formality

Hamster Kombat will be live on binance in less than two hours but that is not the news, check on Earn to see what a crazy APR they have!

Bitcoin still under 200 Daily moving average, wich looks like a solid resistance zone, a small correction on 12 hours time frame might be in cards today or tommorow, to test the support levels at 61.000$ , right now market is boring, but in any moment a pump could break the resitance

Bitcoin needs some power to break 200 daily moving average, if not maybe we will soon test the 60.000$ levels for support, byt if we break the 200 DMA the road to 68.000$ will be a walk in the park

The rate cut was a good bullish news for crypto , but the war in middle east can impact the market hard and fast in case of escalation.

Today is important , we close the week, a close above 61.000$ is a must to hope for next level, a close above 64.200$ is what will confirm a beautifull breakout to 70.000$ levels. But if we close below 61.000$ a correction can start.

I would wait another 10 hours for the 3-day candle to close, which is super bullish, if it closes above $61,000 there are chances that the party will continue and we will witness a potential bear trap / long squeeze up to that area.
If we close below $61,000 today, I'm thinking of a short position without leverage. Let's see

What's next? For bitcoin?
Examination of $64.3400 resistance from the end of August, it will not be easy but if it passes the next zone will be at $68,000, let's see how long the euphoria of the bullish announcement made by the feed lasts!

To be bullish for real Bitcoin must break 64.000$ , if a corection on daily time frame starts from here is not the best outcome of the FED bullish decision

The real question is , is bitcoin going up or dollar going down 🙃

Today we have these scenarios:

Rate cut of 0.25% (25 basis points)
- Modest signal: This indicates a minor adjustment in monetary policy, suggesting that the Fed is trying to support the economy without signaling a major crisis.
- Equity market: The reaction is positive but moderate, as a small drop in interest rates encourages investment but does not suggest a significant economic problem.
- Bonds: Bond prices could rise slightly due to falling yields.
- Alternative assets (Bitcoin, gold): Minimal impact, but these assets could become slightly more attractive to investors looking for higher returns.

Rate cut of 0.50% (50 basis points)
- Moderate-strong signal: This indicates a more serious concern about the global economy and the need for stronger stimulus.
- Equity market: Investors see this as a positive signal for boosting economic growth, and equities could react favorably.
- Bonds: A significant reduction in yields, making bonds more attractive.
- Alternative assets: Both Bitcoin and gold could benefit from a 0.50% rate cut as investors begin to seek safe havens against currency depreciation and rising inflation.

Rate cut of 1% (100 basis points), that would be fabulous
- Very strong signal: A drastic measure, indicating that the Fed is very concerned about the state of the economy and is trying to inject significant liquidity.
- Equity market: Reaction may be mixed. Initially, stocks could rise due to lower borrowing costs, but a 1% drop could also signal panic, which could create uncertainty.
- Bonds: Bond prices would rise sharply, yields would fall significantly, and investors would seek safe assets.
- Alternative assets: Gold and Bitcoin could see significant gains as such a large rate cut could trigger fears of or a deeper economic crisis.

Conclusion:
- The rate cut of 0.25% has limited effects, but helps to stimulate the economy in the short term.
- The 0.50% rate cut suggests a more serious economic
- The 1% rate cut is an extreme measure, having the potential to destabilize financial markets and make alternative assets much more attractive.

Ethereum looks weak, I put my buy order at 2.100$ , let’s see. Watch out before 18 September market might get very bumpy, Rate cuts might start soon