Element291017

Guys, here’s the next-week update for $BTC and the majors, the trading zones, and the data that will make the move! I’m going to explain each level, why we could get there, why I’m still calling for a bottom pending under $50,000 for BTC, and why I’m still not bullish on BTC after such an explosive move! For BTC, as you can see on my chart, I’m using Fibonacci to find the retracement levels. And don’t worry, I’ve been using Fib for quite a long time, tested it, and I believe in these levels.So, the bullish scenario is that the market gets to the 0.5 or 0.618 Fib levels. These two levels are around $72,500 and $70,100 for BTC. This zone must get retraced if BTC wants an explosive move and wants to validate this bullish surge. While we’re looking through the technicals, the fundamentals come in! Here comes the CLARITY Act. The September 15 odds are currently high, over 80%. But let’s suppose it gets approved. The maximum level I’m looking for in case the Act gets passed is $84,000–$86,000 in a quick candle. But, there is FOMC the next day, September 16, which I personally believe could bring a hike. There ain’t no way this time they go for easing. They have to go for monetary tightening. 25 bps must get hiked. Note this! Wondering what the impact will be? An absolute 7–10% crash on that single day, September 16! And it’s not going to stop there. On September 18, we have the BOJ rate decision, which could also bring a 25 bps hike. These two events could easily take us under $60,000. Reason? Yen carry trade. They could sweep liquidity from stocks, which will have a direct impact on risky assets. Both will get a free fall… So, conclusion: I don’t want to make this more lengthy CLARITY ACT REJECTED → $70K–$72.5K RANGE CLARITY ACT PASSED → $84K–$86K MAXIMUM Those are the specific reasons I’m still bearish on the majors, and plus, the structure still isn’t shifted bullish on the higher time frames. Drop a LIKE! #ClarityActFacesProceduralVoteSept15 $ETH etfs inflow! Note this avoid shorts in eth!