#BTC☀ Market Analysis:
The trend of the past few days has confirmed my previous prediction of the market: volatile rise!
On September 13, the market soared because of an article by a Wall Street Journal reporter (Federal Reserve mouthpiece) that the probability of a 50 basis point interest rate cut was expected, and the price of the currency soared.
Then the market was worried about the economic recession, and the market fell for 3 consecutive days, basically giving up the previous gains.
On September 17, the August retail data was higher than expected, which reduced the market's concerns about the economic recession. As a result, the price of BTC returned to its previous position.
Today, the price of the currency is sideways, waiting for the interest rate decision at 2 am tomorrow.
If the interest rate is cut by 25 basis points, the market may fall immediately, because before the meeting, the market's expectation of a 50 basis point interest rate cut reached 63%.
If the interest rate is cut by 50 basis points, the price of the currency may rise, then pull back, and then wait for the market to digest the concerns about the recession before continuing to rise.
No matter what kind of pullback, it will not be lower than the previous low.
