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๐ข Is Bitcoin going to explode tonight? The Federal Reserve's interest rate decision, how will the market move, come take a look.
1. As shown in the chart, from September to now over the past half year, every time the Federal Reserve holds an interest rate meeting, BTC experiences a sharp decline, with drops ranging from 10-30%, in all 5 meetings. Will there be a crash tonight?
2. Very likely! But the decline isn't over in a day; it's a process, with ups and downs. Based on past experience, corrections usually last about 7 days. So conservatively, we estimate Bitcoin will correct by 10% over 7 days.
3. From the candlestick chart, BTC's strong support levels are around 74,500 and 70,500. Yesterday, it already dropped to 75.5k, with a very good correction range. We took partial profits with high leverage, locking in gains, and will continue to short after the rebound. Hey, isn't the rebound happening now? The current resistance is around 78k, where we can consider shorting again.
4. Additionally, I have already entered most of my positions in crude oil. We short 10% each time, with 1-3x leverage, entering in batches. Iโve already taken 30% of the position, and plan to add the last 10% around 108, holding long-term, just waiting for good news from US-Iran negotiations. Once there's a big drop, itโll be awesome!
5. Overall, we short at 79k, take partial profits during the decline, wait for a rebound to re-enter, and the trend is pretty much in line with our expectations. Very good, letโs keep going together~