Yesterday , we write about $BTC that no much bigger move is expected at weekend consolidation between $59K - $60K is expected . Now you can check charts. It is past now let's discuss upcoming move of BTC . In today post we will discuss first below topic mainly and 2nd one shortly . At the end we will share our own POV about BTC for short term as usual :
⇉ #FedRateCut Effect On BTC
⇉ BTC Technical Analysis
⇉ POV About BTC For Short Term
🔸 So, let's start with most demanded topic FED Rate Cut effect on #BTC☀ . To discuss it we need to look on past what happened with BTC when rate cut happen. If we look on past then it will clearly shown that rate cut give ignite to BTC dump or pump for 4-7 days depend on in which direction BTC moving before rate cut. We marked 5 rate cuts . Here are details :-
⓵ First 0.25% rate cut occour on 01 AUG 2019. 2 days before it BTC created double bottom and moving upward. And we saw more pump after rate cut.
⓶ 2nd 0.25% rate cut occour on 19 SEP 2019 market was moving downward. And we saw more dump with faster speed after rate cut.
⓷ 3rd 0.25% rate cut occour on 31 OCT 2019. BTC showed massive pump before rate cut but left a Liquidity sweap candle and showed weakness some days before rate cut ( Showing bearish overall ) and we saw faster dump.
⓸ 4th 0.5% rate cut occour on 03 March 2020. BTC was moving downward and we see massive crash upon rate cut.
⓹ 5th 1% rate cut occour on 16 March 2020. Market showing reversal in 1D TF after crashing. And you can see how much faster market recover.
Now BTC reverse from $52K after creating 52K low. Rate Cut will occour on 18 Sep ( 99% Chance ). Market is moving upward BTC will be ignited and move faster in upward direction . And we will see BTC in range of $66K and $68K upon rate cut. This is short term expectations (4-7 days) after rate cut. After that we will need to analyze market again for next move.
🔸 Technical are same as like yesterday some more consolidation and then $61,800 move also same POV.
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