It's time to say hahaha to America. They tried so hard with us. What haven't they done to this market? Now the scam they created has passed to their own heads. The US dollar is melting against crypto. Here is the detail;
On August 23, the publication of the moderate FOMC minutes further fueled market speculation that a September rate cut was almost certain. The Kobeissi Letter indicated that the question was no longer whether the Fed would cut interest rates, but how much: 25 or 50 basis points. Data from the CME FedWatch tool shows that the probability of a 25 to 50 basis point rate cut in September is 100%.
From a technical perspective, today's gains in the crypto market are part of a recovery that began at a support confluence that includes the major support of $1.86 trillion and the support line of the ascending triangle. The total market cap, currently at $2.094 trillion, is aiming to break above the triangle’s $2.118 trillion resistance line. If this happens, it will signal a bullish breakout from the current consolidation phase and potentially push the market toward the $2.4 trillion area, which is the bullish target of the ascending triangle.
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