WHY IS BITCOIN DUMPING?
BTC recently dropped below $61,000,
making a new monthly low of $60.5K
Here are some of the major reasons
behind this BTC dump 👇
1) Mt. Gox distribution
Just a few hours ago, Bloomberg
reported that Mt. Gox had announced
plans to distribute
This feels eerily similar to August-October last year.
• Retail interest is evaporating fast (YT views have fallen off a cliff over the past week)
• Apathy amongst existing market participants
• Lack of clear narratives
(and the #Bitcoin price action looks identical too)
$BTC [1W] Step-like formation Update
Bitcoin is forming an ascending broadening wedge at Base 4, which breaks to the upside 79% of the time.
67% of the time it's a continuation pattern and the trend is up.
Target zone ~$300k at sell line.
In less than 48 hours, we’ll find out if the Fed cuts 25bps or 50bps. 💥
This could shake up market structure BIG time.
Plus, what has Tom Lee’s Fundstrat uncovered about late September that might shock you? 😱
All that and more in today’s video! 🎥👇
#FOMC #RateCuts
Before the FOMC rate cut, remember this Walter Deemer gem:
"The stock market will do whatever it has to do to embarrass the greatest number of people." 📊🎯
Stay sharp, expect the unexpected! ⚡️
follow: @walterdeemer
#FOMC #RateCuts #StockMarket #TradingWisdom
The pain of inflation is seen EVERYWHERE.
Has your salary increased by 30-40% since 2021?
If not you’re getting crushed by inflation.
People need to WAKE UP and not accept this.
As expected, the #Fed caved to the markets and cut interest rates by 50 basis points. Not only will this round of rate cuts not stop a cooling economy from entering a #recession, but it will also turn up the heat on #inflation, making the recession that much worse. Buy #gold now.
$BTC [1W] Step-like formation Update
Bitcoin is forming an ascending broadening wedge at Base 4, which breaks to the upside 79% of the time.
67% of the time it's a continuation pattern and the trend is up. Target zone ~$300k at sell line.