Shan-e-Raza

🇺🇸 Federal Reserve's Christopher Waller says "could cut rates as early as july meeting."

#BlackRock now holds 3% of all #Bitcoins 💰 in their #ETF

🇬🇧 French publicly traded, The #Blockchain Group buys an additional 182 #Bitcoin for €17.0 million

Given the #FederalReserve's decision to keep interest #rates unchanged at 4.25%-4.50%, here are some assumptions:

*Economic Implications:*

- The Fed is likely waiting for more #data on #inflation and economic growth before making further rate decisions, indicating a cautious approach.
- Keeping rates steady suggests the economy is stable enough to not require immediate stimulus or tightening.
- This decision might boost the #stock #market, as seen in the S&P 500's slight increase to 6007.20, with a 0.26% change.

*Future Rate Projections:*

- Based on historical trends and Fed projections, we might see rate cuts in the future, potentially starting later this year, given the current rate of 4.25%-4.50%.
- The Fed's goal to reach a 2% inflation target might influence future rate decisions, potentially leading to stabilization or slight decreases in rates.

*Market Expectations:*

- The #CME FedWatch tool indicates a high probability (83.5%) of rates remaining unchanged in June, aligning with the Fed's decision.
- Market pricing suggests an 85.5% probability of rates staying at 4.25%-4.50% in July.

#KASUSDT Observation
#Key Observations:
1. *Price Trend*:
- The current price is $0.07644$.
- There's a clear downtrend visible on the chart, with the price consistently making lower highs and lower lows.
- The 24-hour change shows an 8.06% decrease, indicating recent selling pressure.

2. *Technical Indicators*:
- *EMA (Exponential Moving Average)*:
- EMA(20): $0.07826$
- EMA(50): $0.08126$
- EMA(200): $0.08569$
- The price is below all three EMAs, confirming a bearish trend.
- *RSI (Relative Strength Index)*:
- RSI(6): $41.33166$
- RSI(12): $37.27807$
- RSI(24): $36.34621$
- The RSI values are below 50, indicating bearish momentum. However, they're approaching oversold territory (below 40), which might suggest a potential short-term bounce or consolidation.

3. *Volume*:
- The 24-hour volume is $292.40M (KAS)$ and $22.92M (USDT)$.
- Volume has spiked during the downtrend, indicating strong selling pressure.

4. *Support and Resistance*:
- *Support*: The recent low of $0.07439$ acts as immediate support.
- *Resistance*: The recent high of $0.08367$ acts as immediate resistance.

#Analysis:
- The overall trend is bearish, with the price consistently trading below the EMAs and the RSI indicating weak momentum.
- The recent sharp decline suggests strong selling pressure, but the RSI approaching oversold levels might indicate a potential short-term pullback or consolidation.

#Recommendation:
- *Short-Term Traders*: Consider waiting for a potential bounce or consolidation near the support level of $0.07439$ before making a move.
- *Long-Term Traders*: Given the strong bearish trend, it's advisable to avoid going long unless there's a clear reversal pattern or a break above the recent resistance of $0.08367$ with strong volume.
- *Shorting*: If you're comfortable with shorting, you might consider entering a short position near resistance levels or after a confirmed breakdown below support with increased volume.