#BTC update: Well, the weekly cloud's bottom once again held | Invetas Signals

#BTC update:

Well, the weekly cloud's bottom once again held as support for SP500, while the FTX collapse pushed crypto lower. Stocks touched resistance last week - very precise chart.

The next FOMC meeting is on Dec 13-14. The bond market is currently pricing in a 78.2% chance of a 50 bps rate hike. After 4 consecutive 75 bps rate hikes, 50 bps now would be the first tangible sign that the Fed is actually slowing down. The situation seems pretty straightforward - if it's 50 bps, market continues front running the pivot, breaks the resistance. If it's 75 basis points, it becomes clear that Fed statements about slowing down are not to be trusted, the market crashes. We should see some volatility on Tuesday.

https://s3.tradingview.com/snapshots/u/umfubQYv.png