Another Bitcoin pullback began, last dip beore rate cuts cycle.
Greetings,
Looking at the indicators(the net volumes mostly), it's pretty clear people are taking the sides of the bears for now. The 65K resistance level will persist for now. But as we all read up on the macroeconomy, the easing cycle is about to began in September. The professionals are waiting patiently for the clear signal from Federal reserve.
However, it's not an easy short trade experience if you take a look at the economic calendar. On August 29th, PCE data will be released and bitcoin believers will buy the dips.
To avoid headaches, I personally recommend sell your bitcoin spot now at 64000 and buy it back below 60000. Take advantages of the last trading sideways period before the rate cut cycle officially begin.
Good luck!
Looking at the indicators(the net volumes mostly), it's pretty clear people are taking the sides of the bears for now. The 65K resistance level will persist for now. But as we all read up on the macroeconomy, the easing cycle is about to began in September. The professionals are waiting patiently for the clear signal from Federal reserve.
However, it's not an easy short trade experience if you take a look at the economic calendar. On August 29th, PCE data will be released and bitcoin believers will buy the dips.
To avoid headaches, I personally recommend sell your bitcoin spot now at 64000 and buy it back below 60000. Take advantages of the last trading sideways period before the rate cut cycle officially begin.
Good luck!
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