Quick trade idea, i see two possible resistance points to reverse this bullish move we have now. Daily Resistance at 32.5K, or possible even rejecting off our Daily Resistance Trend-Line.
Even though inflation has dropped with this report, i still believe the Fed still has plans to continue to try and raise interest rates, and Powell doesn't want to lose the fight of fighting inflation.
Even after the failure of many Banking Institutions, The FDIC Chairman & US Treasury Secretary Federal Reserve Board released a statement saying "All Deposits at Silicon Valley Bank are now fully insured", in other words they're bailing their failure out, and will turn the printers on a print over $25 Billion dollars in losses that they took. This will definitely causes inflation raises to continue rising, and for the economy to continue crashing.
We're nowhere near the bottom of this move now, and i see price potentially reaching our Monthly Level at 30.7K.
Trade safely, This is just my Personal Opinion!
Even though inflation has dropped with this report, i still believe the Fed still has plans to continue to try and raise interest rates, and Powell doesn't want to lose the fight of fighting inflation.
Even after the failure of many Banking Institutions, The FDIC Chairman & US Treasury Secretary Federal Reserve Board released a statement saying "All Deposits at Silicon Valley Bank are now fully insured", in other words they're bailing their failure out, and will turn the printers on a print over $25 Billion dollars in losses that they took. This will definitely causes inflation raises to continue rising, and for the economy to continue crashing.
We're nowhere near the bottom of this move now, and i see price potentially reaching our Monthly Level at 30.7K.
Trade safely, This is just my Personal Opinion!
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