Nice sunday volatility. | CRYPTO MECHANIC on Binance Square

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CRYPTO MECHANIC

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Nice sunday volatility. Lol

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$BTC Nice reaction from that zone, hate that the move came on sunday. We have fomc due on 11th December, lets see how the new week begins.

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A lot of people are waiting for the Fed meeting, expecting that an interest rate cut will pump the market. That can happen, but there’s no need to be overly confident about it. Rate cuts are generally bullish for traditional markets, and you can clearly see that from how US stocks and Gold have been performing. However, crypto hasn’t shown any meaningful reaction despite two rate cuts in the last two months, the crypto market didn’t benefit at all. Hopefully this time we’ll see some movement. Most of the news is usually priced in anyway, because everyone already has an idea of what the outcome will be. For now, crypto remains range bound with over all bearish trend. Maybe next week will finally give us some directional play. The interest rate decision will be announced on December 11th, so let’s see how the market responds this time. I personally think best trade opportunity will come when the market will show some strength and preferably shift the short term trend. Not any news event.

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$ASTER been down since I made an update on it. Price still looks weak, it retested the same zone but got rejected. I think more downside is likely as long as price doesn’t reclaim the 1.13 zone.

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I don't know why this scam pumped, but every time it pumped out of nowhere, it was just to grab some more liquidity before going lower.

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