We continue in the major range and within it in the MONDAY RANGE, surely today is a day that we see a liquidity intake breaking this range with the volatility that the news of the economic data may generate.
There is currently speculation that Tether is facing problems. This is because an increase in the sale of Tether has been observed in the liquidity pools of the Uniswap and Curve protocols. When there are a lot of sales, a rapid takeoff of the stablecoin can occur.
If this were to happen, it would be worrying for the cryptocurrency economy, as Tether has gained market share while other stablecoins, such as USDC, have faced regulatory action.
Instability in Tether would come at a difficult time for cryptocurrencies, which have already faced regulatory action. Regulators are particularly interested in stablecoins and a problem with Tether could have serious consequences for the entire crypto industry. #USDT#Bitcoin
Except for a major surprise, today will not be as volatile a day as yesterday since a pause in rates is expected with more than 90% probability and this has already been discounted by the market that yesterday with the inflation data gave even more weight to this possible decision.
In any case, from my point of view the focus will be on Jerome Powell's subsequent press conference, where we will be able to know first-hand the forecasts for the near future of monetary policy.
Core inflation remains in line with previous estimates, reaching 5.3% while headline inflation in the United States registers a greater decline than anticipated, standing at 4.0%.
This data is positive for the markets and further confirms the possibility of a NO rate hike by the FED.
We are just below the range and are waiting to see if it breaks to the upside or not. But the expectation is not that the price will rise again, but rather that it will fall. Within this range, we can identify the optimal extension zone (OTE) of the last impulse, which is located in the middle part. If we manage to break out to the upside, we will also find that trend line that could act as resistance.
On the other hand, if the price continues to fall, I will keep an eye on 25k to see if there is a good bounce. This situation could favor a good rise in altcoins in the coming weeks.
If 25k is not enough to support the market, we may see a drop towards 23-19k, which could create excellent opportunities.
For a long time now I haven't cared what the price does, I only care about knowing what I'm going to do depending on what the price does 𫥠#trading#Bitcoin #crypto
"Trading is a long-distance race, not a sprint. Consistency and perseverance are key to achieving long-term success. We must focus on following our strategy, staying disciplined and controlling our emotions, even in moments of doubt. With the "With time, experience and constant learning, we can become successful traders and achieve our goals."
Talks to reach an agreement have been suspended, generating uncertainty in the markets.
American banks and Chinese negotiators are working on an emergency plan in the face of an unprecedented event in history. This has led to a decline in the traditional market.
Meanwhile, in the White House, Republicans have urged Biden to make significant spending cuts as a requirement to restart negotiations. As a result of these developments, the press conference scheduled for today has been suspended.
We find ourselves in uncharted territory, as the consequences of an event of this magnitude have never been experienced before. #Finance#USDebt#Markets#Current News
đĄđ° The key to success in trading is not only seeking profits, but also good risk management.
My 3 golden rules to protect your capital:
1ïžâŁ Diversify: Don't put all your eggs in the same basket. Distribute your capital across different assets to minimize the impact of possible losses.
2ïžâŁ Stop-loss: Define exit points to limit losses in case the market moves against you. Discipline and protection go hand in hand!
3ïžâŁ Make sure you don't risk more than 1-2% of your capital in a single trade. Correct position sizing is essential.
Protecting your capital is the key to surviving and thriving in the world of trading. đĄïžđ
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