2022-07-16 20:38:30
#BTC update:
ETH just broke out of its range, tons of altcoins are starting to push past their resistance levels.
European Central Bank is starting an unlimited bonds buying program next week - essentially printing money out of thin air to throw into the market. I don't know how FED will react, but central banks usually move in unison, and dollar being too strong is bad for America's exports. It looks like the only thing they can do is flood the market with money.
I've already said that we might reverse here, and now it's obvious. I'd still stay away from leverage, expect volatility. Alts got rekt so hard, 50% moves seem insignificant on the chart. But if there ever was a time to sell your worldly possessions, max out your credit card and go all in shitcoins, it is now. (not joking)
It's still a good idea to take profits at resistance levels, and who knows, you might even get better entries later than they are now. The point is, don't ignore the changing macro conditions.
https://s3.tradingview.com/snapshots/3/36AxQFUc.png
https://finance.yahoo.com/news/ecb-bond-tool-seen-having-040000033.html
https://cryptohayes.medium.com/a-samurai-a-knight-and-a-yankee-211bf975a31d
147 views17:38
I
