Market overview of cryptocurrencies

Crypto Market Review

📍As mentioned on Sunday, there was a rebound in the market. Whether the rebound will continue depends on a number of factors today:

  • The opening of the American market after a long weekend
  • Closed meeting of the Federal Reserve (Fed) today
  • Statements by Fed members after the meeting

There is still a possibility that the Fed will support the markets during today’s meeting, so there is hope for growth. However, trading should be based on the current situation, not on what might happen soon.

What is happening in the US economy is causing serious concern. If we look at the smarter debt market, the situation is dire, and I cannot describe it any other way. There is an inversion of yields, where the yields on short-term bonds are higher than long-term ones, and when these yields equalize, it’s best to close all positions on the market if it’s not too late. Anyone who has been trading for a while will understand this, as it always ends in a collapse. The only hope for salvation lies with the Fed.

✔️News

At 18:30, the closed meeting of the Fed will take place, and we will not know its contents until afterwards. Only the statements made by Fed members can give us an idea of the outcome, but some decisions may be announced based on the results, although the interest rate will not be changed. The banks could still be flooded with money.

At 23:15, Fed member Williams will speak, giving the public an idea of the current disposition after the closed meeting, unless insiders have already taken advantage of this by 18:30.

✔️Basic Scenario

While there is still a chance of further growth, trading should focus on buying. The market slump will come sooner or later, but you can accumulate shorts now and then get such an upward swing that your deposit cannot withstand it.

Technically, it makes sense to anticipate growth and liquidate shorts at $29,000 for BTC. However, Americans may play a correction first, as the Sunday growth occurred without them.