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๐ขIs Bitcoin going to explode tonight? The Federal Reserve's interest rate decision, how will the market move? Let's take a quick look.
1. As shown in the chart, over the past half year since September, every time the Federal Reserve holds an interest rate meeting, BTC experiences a sharp decline, with drops ranging from 10-30%, in all five 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 have taken partial profits with high leverage, locking in gains, and will continue to short after a rebound. Hey, isn't a 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 allocated 30%, 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, it will be awesome!
5. Overall, we shorted at 79k, took partial profits during the decline, and will re-enter after a rebound. The trend is pretty much in line with our expectations, very good. Letโs keep going together! $BTC โ$XBRUSD โ