DevKhabib 2 minutes reading from Bitcoin

Price Update: Bitcoin Will Be Below $30K Next Week

Here is my view on BTC for the next week.

The next few days (until the FOMC meeting) will be pretty volatile with a big upside move. Why?

Explaining it in a short thread🧵


This will be the final up move whales will try to do.

Why? Because they need the best price to short the market.

When you have millions, there is quite a difference shorting at 19k than at 22k.

They will try and trap the retailers to long at 22k, while they'll short it.

And be aware - the market is already doomed to go down.

Next week - interest rate hikes. Because of the inflation data, they need to do a big interest rate hike (at least they think so).

The interest rate hike will be at least 75 basis points big, if not 100 basis points.

If you tell me that you know such an interest rate hike will happen and you're bullish then you should not be trading nor investing.

But if the interest rate hike will be lower, let's say 50 basis points, then the crypto community will do its thing.

If a 50 basis points hike happens, I am looking for a big long and for a 30k target.

So what should you do over the weekend?

-Look for long opportunities until Tuesday

-Enjoy and relax

-Do some reading

We will see what happens over the weekend and discuss it on Monday.


This post is based on this twitter thread.


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