BTCUSDT - Trying to Find Direction
BTCUSDT seems to be trading in a range and trying to find direction. Support and resistance levels are marked on the chart.
Upcoming FED meeting will be the key in identifying the direction of movement. Everyone seems to focus on the interest rate hike (25 or 50 points) and it is most likely priced in by now. Therefore, the amount of increase might not have much of an affect on the markets.
Our focus will be on what the FED does with its BALANCE SHEET (key data to focus on from the meeting). If FED decides to reduce their balance sheet and starts selling assets, would expect a downward movement in the overall market regardless of a rate hike or not.
Not a financial advice and please do your own DD.
Thank you for your support.
Upcoming FED meeting will be the key in identifying the direction of movement. Everyone seems to focus on the interest rate hike (25 or 50 points) and it is most likely priced in by now. Therefore, the amount of increase might not have much of an affect on the markets.
Our focus will be on what the FED does with its BALANCE SHEET (key data to focus on from the meeting). If FED decides to reduce their balance sheet and starts selling assets, would expect a downward movement in the overall market regardless of a rate hike or not.
Not a financial advice and please do your own DD.
Thank you for your support.
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