Massive 6% move up today for Bitcoin in anticipation for a 50 bps rate cut tomorrow.
BTC smashed through the 50D MA and back into the BMSB.
However don’t be fooled; we are still very much in a downtrend as you see the 50MA is well below the 200MA.
We could see price break through the BMSB and reject from the 200MA in the next 48 hours.
There’s still a lot of liquidity <$50k that needs to be claimed for the next leg up.
Either way, I would not be trading leverage here.
Expect massive volatility.
BTC smashed through the 50D MA and back into the BMSB.However don’t be fooled; we are still very much in a downtrend as you see the 50MA is well below the 200MA.
We could see price break through the BMSB and reject from the 200MA in the next 48 hours.
There’s still a lot of liquidity <$50k that needs to be claimed for the next leg up.
Either way, I would not be trading leverage here.
Expect massive volatility.
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