BTCUSD By MarcPMarkets – Technical Analysis – 2022-12-11 22:14:01

All eyes on CPI The report comes out on Tuesday. This is the main report Federal Reserve Considered in terms of interest rate adjustments. Immediately after that, the Fed meets on Wednesday to announce its next interest rate decision, followed by the all-important press conference. What does all this mean for bitcoin? The price action will likely not go anywhere even as a result of these events.

Don’t make the mistake of thinking you know how the market will price the outcome. In this environment, these are binary events. The price can move one way or the other, or go nowhere at all if there are no surprises or new market information to price in. This is where opinions can get very expensive. If you are not in the market, it is best to wait until the event is over. The thing is, this week we have two big events back-to-back.

The problem with opinions is this: there is no way to know exactly how the market will react, and LOGIC (which everyone does) is not effective in a market that is primarily driven by emotion. for example, CPI It may be higher but not as high as expected which could be positive for the markets as it is in line with the Fed’s rate hike at a slower pace. The point is, let the market imagine it. The market knows all the information in the world and is very efficient.

Here is my plan for swing trading Bitcoin: After both events get out of the way, I will look for short setups in the low 18Ks. If the price breaches this area in a decisive way, I will stand aside. Although many would argue with that bitcoin In an “up” trend, this only applies to very short timeframes. The bigger picture continues to keep a file Parisian structure. I have no intention of looking for longs unless the 15K low is retested, which is very likely to break (especially given an unexpected catalyst).

Until these events unfold. bitcoin (and the stock market) is likely not going anywhere. Don’t get caught up in taking unnecessary actions or trading just for the sake of trading this highly uncertain situation. The 17 k The area remains near the 15k-18k midpoint of broader lower consolidation. The price action here is very random.

While I still think it’s too early to take any larger positions for longer time horizons, I think this is the time to build the investment plan. bitcoin One of the instruments that I include in my upcoming speculative growth portfolio will be which will consist of a variety of growth stocks and possibly selected altcoins.

Thank you for considering my analysis and my point of view. I hope you find it useful.

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