Hi Sive, Hi everyone,
Despite Fed's Statement and Powell's declarations, i consider the 2 different buying trades we mentioned here are still valid, at least on the technical part, so i'll keep tracking them here. The response of the markets to the Fed meeting was quite soft, and for now i don't have an invalidation with a significant daily close. Some major crypto are even doing great performance (MATIC), meaning that the market may consider recent event was normal response.
Tracking DRPO Buy Pattern.
2 Trades on 2 different Timeframes
1) Weekly Trade
2) Daily Trade
Pros and cons
The reaction on rates hiking was moderate
The 1H recent lows and the 20k have not been broken
1H double bottom has formed
Stiil the global context is mostly bearish for cryptocurrencies, and as
@Sive Morten explained, a failure of the weekly DRPO, is a bearish pattern for itself.
So please be careful and for those who are in let's wait for further development.
Regards
