Dr_Wallstreet

Dr_Wallstreet

With cooling of the labor market as the new priority and an objective of incentivizing borrowers without hurting creditors, the fed is likely to drop interest rates by 25 basis points which should set BTC on slight downtrend.

Dr_Wallstreet

This scalp trade was initiated with the goal of capturing the quick rebound toward the mean and i expect the price to retrace quickly. The signal was generated on a lower timeframe of the asset but sadly 15 minutes is the cap.

Dr_Wallstreet

After Bitcoin retraced nearly 19% from its recent highs, I believe it hasn’t yet reached the average cycle correction of around 22%, which could take the price down to about $57,500. In a more bearish scenario, the correction could deepen to 25%, or even extend toward $50,000​. Factoring in U.S. Federal Reserve interest rate cuts, will drive short-term...