BTC - last push to 29k and then down!

Here's a quick look at the 1 hr. BTC chart.
As we can see, the price is currently forming a bear flag, a bearish pattern, and a decisive move could be around the corner!
We may see a push to 29k to close the CME gap.
Any decision by the Federal Reserve to increase interest rates by 50 basis points would likely result in a considerable market downturn. So, it would be advisable to closely monitor the outcome of the upcoming FOMC meeting tomorrow.
The existence of CME- and Fair Value gaps below the current price implies an eventual downward correction. Moreover, the overall sentiment is not bullish, and the possibility of an unforeseeable black swan event remains!
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Key Dates to Watch in March:

21/22 Mar: FOMC Meeting
30 Mar: GDP Report

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تعليق:

CME gap filled just before the FOMC meeting! - Just as expected!

تعليق:

Broke below the bear flag!