This week was supposed to be volatile due to the FOMC, but things weren't as volatile as I expected. From the current market conditions, the effect of the news will take a few more days to be reflected in the market. I expect 113k to be raided before we see price get to 118k But in a way I feel the market could prove me wrong and head for 118k next without raiding 113k.
What's your take on the current market situation?
Volatile week? The market moved from a range of around $114,500 to around $118,000 only. Do you consider that as volatile? What's your take on the current market situation?
Kind of funny.Anyways, the market didn't react that much after that FOMC because what many are expecting did happen - a 25 BPS rate cut. What will happen in the remaining days of this month will depend on what will be the news that's released. If there isn't any news that has a big impact towards the market, I expect that the market will move sideways before October. Speaking of rate cuts, I hope that we will stop talking about it momentarily, and just to add, there's a 92% chance that the FED will cut rates yet again on October during the next FOMC.
My take on the current situation. Nothing. Just a boring market incoming until the end of the month, and if you're a trader, it's better to trade on altcoins than on Bitcoin itself.
