BTC market is slowing and waiting for tomorrow FED announcements what will move market strongly. To take big leverage trades.
BTC raging in price action 27.400$ and 28.500$ and consolidating before FED news. Take part of profit and watch for BTC price before FED meeting.
ETH pushing hard into resistance and 1820$ need to flit to support for next leg up to 2000$. Market is bullish but don’t take big leverage before tomorrow news.
XRP pushing hard into 0.4$ resistance and need breakout for next leg up. Still in consolidation zone and good for spot buy.
LINK pushing hard into 7.4$ resistance and need to break up for next leg up to 8$. Still accumulating and good for spot buy long term.
SOL holding around 23$ and pushing into 24$ resistance. Also good for spot buy on long term.
DXY holding at last support 103 before under 100 range. Good market news and printing money decrease dollar value.
Crypto/stock daily news:
CRYPTO IS DECOUPLING FROM STOCKS
Crypto investors stare at different charts all day long. Most of them are boring and hard to understand. (booo!)
But one of our favorites is the NASDAQ 100 vs Bitcoin price correlation.
Why do we like it? Because it tells us how closely correlated crypto prices and stock prices are.
Well, check it out – according to CoinShares, the correlation between Bitcoin and the NASDAQ100 is at a 1-year low.
Why this matters: Many investors argue that Bitcoin can’t serve as a hedge against inflation if the price movements always mimic the stock market.
And over the last year, that’s been the case. Crypto and stock prices have been doing the Tango, with stocks leading the dance.
But now it seems that crypto is starting to dance to its own beat (probably the Dougie).
Many are calling it the Great Decoupling. This might make it more appealing to investors that are looking for an interest-rate-sensitive asset.
We’ll see if the trend continues.
Market is calm before FED news so don’t take big leverage before news you could be wiped out.
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Sentiment Is now BULLISH and real test for bulls are this week.
Not Financial Advice!
Good luck with trades!