Good day all, I hope you're all well. I'm aware that the market is super volatile at the moment (more in traditional finance with the Bonds) and this is impactful for Crypto, so my thinking is more updates the better. #marketupdate

🦿Let's Break It Down:

From what I can see, Bonds are where the action is as there is this constant battle between will the FED cut this year or will inflation remain stubbornly high and therefore the FED will keep rates high? Ultimately, we're now getting a Bond market telling the FED that they're done hiking as enough damage has been done as it's already appearing.... in the banking sectors.

Now, banks in a credit crunch is obviously bad on the surface, butttt, credit crunches - which is what this is, a slowdown in credit conditions - are in their nature deflationary... lack of ease for credit. So, this is positive for inflation coming down. The March 2024 FED Funds Rate is now signalling an interest rate of 3.50%, that's 150 basis points of cuts between now and March next year which also assumes no more rate rises. Again, I think its possible the Bond market is getting ahead of itself here. It will all depend however on the banking crisis and how bad this actually is. But, it seems the FED are pleased with the containment of it so far.

🦘 Crypto Trades

In all honesty, I am keeping it super light and really simple here. For me BTC is a clear chart, over extended and created multiple bearish divergences in over bought territory on the major 3D timeframe. I still maintain that I am wanting to fill Short orders in the red box. Annoyingly, so far, we have only filled some small orders as the heavier sized orders are toward the top of the red box.

BTCUSD 12H Chart

#Profit is decent so far, but ideally want more orders and bigger size filled. If we go higher and fill, then great. If we go lower and earn profit, also cool. #Binance #buildtogether #trading

Current XBTUSD Trade