It’s a good thing Powell came out not overly hawkish today, otherwise bitcoin would have easily plummeted even more
Bitcoin to skyrocket in 2024
- Thread starter stinkynuts
- Start date
Just my interpretation of the Fed meeting today: Retail market players liked the Fed minutes and covered their shorts and rallied the market. Bear ALGO's induced the rally and you can notice by the narrow green wicks FOMO'ing to high prices and within minutes or hours it comes back down lower than where the rally started. ETH actually went green for a few minutes and BTC fell just short. Look at where the market sits post Fed meeting. TA's and chart guys calling for a couple or more massive dumps to 40k and then the "smart money" comes in. $ 59,400 to $ 56,600 ( now ), do you think the market is being manipulated ? 
LOL !
LOL !Attachments
I'm medium/long term holding, but I like to try and follow T/A and charting just to follow what is happening and why? If I were to day trade and outsmart the ALGO AI's, I would get whipsawed almost every time and be on the wrong side of the market. UGH !Bitcoin down to 57410 (-3.35%), on the day. I've never understood technical analysis and charting. I admire investors who do!!
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Bitcoin Could Rebound As ‘Paper Hands’ Investors Flee, Analysts Say - Decrypt
Paper hand investors often leave during the local bottom. One analysis suggests we’re now there.
decrypt.co
I've got Diamond hands, so far !Bitcoin Could Rebound As ‘Paper Hands’ Investors Flee, Analysts Say - Decrypt
Paper hand investors often leave during the local bottom. One analysis suggests we’re now there.
fyi, BTC dominance looks like it's going down and during this BTC dump , alts, in general, have held up relatively well.
meaning ? money rotation from BTC to alts and likely a mini alt season during the summer (the main alt season is the last leg of the cycle and ETH needs to make a new ATH first for that to happen)
meaning ? money rotation from BTC to alts and likely a mini alt season during the summer (the main alt season is the last leg of the cycle and ETH needs to make a new ATH first for that to happen)
For all TA's and chart guys, the Fib support at $ 56,500's significance is that it's - 23.5% from the current ATH ( $73,800) and no dump in 2023/2024 has gone past 23%. It's the bulls last line of defense before the 50 to 52k mark. Bear ALGO traders will try to dump it past this Fib mark during low volume times.
Weak jobs data out this am and traders loved the number. Are crypto people safe ? Was $ 56,500 the bottom from May 1st (early am around 4am or so ) ?
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I like your quote system ( or exchange ) better, my day high is $ 62,225
