I like to short altcoins and long Bitcoin BUT... when Jerome Powell will likely be delivering a KO to the market today at the top of the most clear range ever.. I can't help but call out what I am going to shoot at.
#BTC has gone from $28600 > $30,600 > $28600 > $30,600 > $28600 > $30,600 > $28600 > and not heading to $30600 pending bad news.. If JPOW surprises everyone and says they are pulling back because their silly rate hikes are killing the market and not fighting inflation at all... then invalidated and get out of the way fast!
If he does what everyone thinks he will and announces more hikes coming (50 or 75 bps) Bitcoin is probably going to see sub $20,000 in a hurry. (where I will be selling body parts to buy)
Good luck out there!
#BTC has gone from $28600 > $30,600 > $28600 > $30,600 > $28600 > $30,600 > $28600 > and not heading to $30600 pending bad news.. If JPOW surprises everyone and says they are pulling back because their silly rate hikes are killing the market and not fighting inflation at all... then invalidated and get out of the way fast!
If he does what everyone thinks he will and announces more hikes coming (50 or 75 bps) Bitcoin is probably going to see sub $20,000 in a hurry. (where I will be selling body parts to buy)
Good luck out there!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.