We are heading towards a new important week, which is the FED's FOMC meeting, currently according to the survey, the possibility of the FED cutting interest rates this week by 0.5% and 0.25% is currently equal.
Personally, I am leaning towards the possibility of 0.25% because the FED has always been very cautious with their decisions, we often see the FED has a habit of acting slower than the market's developments, feeling that they only solve things when everything is done, however, that feeling may be intentionally created by them, because they are smart enough, have expertise, have people - software to support data analysis.
The 0.5% REDUCTION may be given to the new US president, legitimizing the pumping of money into the market, along with that they will see the market's reactions when they "do it" for the first time.
Regarding BTC, this week's candle closed quite well, the price has decreased by more than 1k PRICE, turning on the pressure we will see altcoins slightly red, however, most of them are still 10-30% away from the bottom of August 5 depending on the coins.
This period is quite sensitive so AEs should limit long and short because being swept at both ends is very likely to happen, AEs have experienced it a lot and know, maybe I mentioned it too much :D.
Each person has an opinion, what is AEs's opinion on the FED's interest rate reduction?
#Binance's #BTC☀
