$BTC update
1 hour and change before the FOMC announcement.
Daily - $BTC currently inside day and up.
60m - $BTC going momo up (weak market structure).
We will likely see a 60m outside bar post-FOMC so be prepared for a sell $BTC post-FOMC scenario.
The buyers are currently in control so if the price breaks back into yesterday's highs, watch out for the potential for an outside day to the downside.
FOMC?
Fed Open Market Committee
The US Fed raised 25bps inline with expectations on the Street.
Now the world waits to see what Powell has to say during his press conference at 230 EST. 😂
As noted earlier - We got the 60m outside bar.
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Now the question is how does it resolve?
Still could go either way - all eyes on Powell at 230pm EST. 👀
Well I hope you heeded the warning -
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These things play out like clockwork.
Take some time to study past FOMC's and it will help you scenario plan.
As a trading mentor once told me everything you need to know about trading is right in front of you.
