“The markets are breaking, which means that the entire saga around a pivot or pause of the FED policy is going to be taken a fast U-turn.
Two-year yields have been falling from 5% to 4.75% already as an anticipation.
In the meantime; assets will probably drop before QE.”
Despite his prediction, the trader says there is a major silver lining to crypto’s current shakeup.
“Ultimately, crypto and Bitcoin are enduring a stress test with all the negative news kicking in.
However, from here, crypto will only be adopted even more as people will start to hate governments and banks.
Looking at king crypto Bitcoin (BTC) specifically, the trader names a few price points that he’d be interested in trading BTC at.
“Levels I’d be looking at with Bitcoin:
– Potential shorts around $20,600 and/or $21,400.
Bitcoin is trading for $19,964 at time of writing.
“Any long I’d like to play at this point for Chainlink has to do with bullish divergences on 4h timeframe before activated.
Constant bearish retests and, my long as well, stops being hit on long side.
Range low seems relatively normal including bull divs.”
LINK is worth $6.17 at time of writing.
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