There was a small spark in the market, followed by a rapid liquidation hunt with the news. Long positions were cleared and the price quickly regained its old area. This situation is called "shakeout"; it is done to throw players out and break their faith.
The outlook is positive at the moment. The price retested. If the area I pointed with the arrow on the chart is lost, we can expect a pullback to the 62K level. This is quite normal. However, if it falls below 62K, a deeper decline may be inevitable.
If the area is maintained, the price is likely to target 64.600$ and then 65K$ levels. What you need to do here is to watch the area closings. Do not rush, wait for the price to come to you. We will see where the market will head after the elections. #crypto
It means opening a transaction based on news, but this does not always provide a net profit. It can create a FOMO effect and is risky. The important advantage is early access to the news. If you reach a news late, the pricing may have already occurred. When you enter, those who reach early have started selling and you will be in the opposite position. This situation is called "buy the rumor, sell the news" in the stock market.
Recently, the expectation of the Fed's interest rate cut was already priced in. The Bitcoin price, which fell to 58k and rose to 61k, was supported technically and by fundamental data. The news of the interest rate cut pushed the price up.
The 1st candle was formed in the morning with the expectation of a rate cut. A 50 basis point decrease was expected. The 2nd candle shows the moment the news occurred. There was buyer pressure, but the real dominant sellers were. When the expectation came true, people got fomo and entered from the top, making losses. The difference between the candles is around 3%, which means high volatility. Those who opened a transaction with 10x leverage experienced a 30% loss. Both long and short traders were stopped or liquidated.
News trading.. 200 dollars in 50 minutes 😎 I have talked about the fed interest rate cut talk for a long time. I said it 2 days ago and this morning both here and on Telegram. Trading can also be opened with the news feed.. For my Telegram channel: coinshifts For Instagram training set: coinshifts
**FED Interest Rate Decision and Expectations** The FED's interest rate decision will be announced today, expectations are for a 50 basis point cut. Bitcoin rose to $59,000 before the decision, gaining 0.7%. FED Funds futures reflect a 65% probability of a 50 basis point cut.
**Data to Follow** - **09:00** UK, August CPI - **10:00** Turkey, July short-term external debt - **12:00** Eurozone, August CPI - **15:30** US, housing starts and building permits - **21:00** US, FED interest rate decision - **21:30** Powell's press conference
**Cryptocurrencies** - **CZ is Free**: Changpeng Zhao to be released from prison on September 29. - **NEIRO Drop**: NEIROETH listed on Binance fell by 45%. - **Bhutan's Bitcoin Investment**: Bhutan accumulated $780 million worth of Bitcoin.
**Domestic Markets** The dollar is trading at 34.09 TL, the euro at 37.95 TL.
**Global Markets** The focus is on the FED decision. Most economists expect a 25 basis point cut, while markets expect a 50 basis point cut.