Are you afraid? The Federal Reserve is making decisions tonight! Powell will be giving a speech, will it be good news?
This time there's no need to think; there will definitely be no rate cut in June, and there won't be a rate cut in July either. The earliest possibility for a rate cut is in September. Since this meeting is at the end of Q2, the Federal Reserve will additionally release a dot plot for interest rates, providing guidance for rates over the next year, with significant variables. I'm not particularly optimistic; let's wait for the results to come out before discussing further.
From the candlestick chart perspective, Bitcoin is currently just as we've been discussing, consolidating between the support of 103,000 and below 110,000. Once it’s time to act, we can proceed accordingly, as we've talked about before.
So yesterday when it dropped from 109,000 to 106,000, I advised everyone not to rush. Wait for 103,300 to turn around and go long; putting in that move yielded immediate results. Tonight we will continue to open positions!
