Fed reaction is weak

27 lip 2023

Morning folks,

So, first dive has happened. While all other markets - FX, Gold, Stocks show positive reaction on Fed statement - BTC can't support the major trend. This is indirect sign of weakness. Now price mostly is supported by 4H K-support area that you could see in our previous update.

We do not see any reasons to take off the table our 28-28.5K target by far. To change the view we need stronger bullish context, reversal patterns that we do not have now.

Thus, let's see what will happen around 29.8K resistance area. Supposedly it might be interesting for another short entry. In a case of upside breakout, most probable destination point is 30.3K and context could start changing...