On Thursday morning, the Federal Reserve is going to cut interest rates, and many people are asking whether Bitcoin is going to take off again?
But if you look at today's daytime trend, it's actually not enthusiastic at all; instead, it’s a bit sluggish, and the volume hasn’t really increased.
According to the normal routine, before such major news comes out, the market should have surged in advance. The current state feels more like big money is quietly pulling back, and whales are watching from the sidelines, not in a hurry to take a position.
The closer we get to the time when everyone thinks it’s going to rise, the more cautious we need to be. The market loves to throw cold water on people when they are most excited. Jumping in all at once at this position may not necessarily be an opportunity; it could more likely be an emotional exit.
Many times, the moment good news is actually announced is the beginning of short-term profit-taking. Is Bitcoin going to have a second pullback next? The probability of that is quite significant.
So the current mindset can be summed up in one sentence: don’t get overly excited, don’t have a heavy position, and make sure to defend well.
In this kind of major news market, stabilizing is more important than gambling.
