#BTC Volatile Day 📊
Bitcoin yesterday neutralized its morning growth and updated the low by evening - 111944.
Unfortunately for me and fortunately for the market, there was just a $60 shortfall before my limit order opened.
On a positive note - the day closed above the diagonal line that the token broke yesterday. But there is still no momentum as Jerome Powell is speaking tonight. Investors are hesitant to jump into longs without confidence.
Why is this important? The nearest market movement will depend on his words. Either his rhetoric will be tough, hinting at maintaining the Fed rate in September, or neutral. I doubt his speech will be soft and hint at a decrease. In any case, at least neutral will suit us. Just a week ago, the probability of the long-awaited decrease was 92%, but PI's report significantly spoiled the picture, and that's why we are falling, as well as the chance of a decrease.
Most likely, today until the evening, the price of Bitcoin will move sideways around 112-114k. By the way, there are currently small gaps on the SME chart in the range of 113300 and 114k. But I keep in mind a possible drop down on negative rhetoric to the area of 111380 - limit order.
The probability of a rate decrease at the moment is - 73.1%
