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$BTC WHY ISNโT BAD NEWS KILLING THE MARKET?
A lot of people are confused right now..... FOMC came with a 25bps rate hike and the macro picture still isnโt exactly bullish, but BTC is still holding around the $75K to $76K area instead of getting smashed
The thing is..... the market was already expecting that 25bps hike, so traders had already positioned around it. When the actual decision came out, there wasnโt much of a surprise left for sellers to attack
And this is what Iโm watching..... BTC is basically moving sideways while some alts are still getting strong moves. If the market really wanted to dump hard on this news, we would probably have seen much more weakness by now
For me, headlines are only half the story..... price reaction matters more
Bad news comes out and price dumps..... that tells you something
Bad news comes out and price refuses to break down..... that tells you something too ๐
Right now Iโm watching BTC support and letting price show me what the market actually thinks..... not blindly trading every headline
#BTC #analysis #TradingwithCoinQuest