Nimble Crypto
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Pump Time? Sticking With FOMC

BTC short liq clusters still large ~16.5 - 16.8K and very attractive. Wall St indicies pumped today but with weakening trend. Could be pump into FOMC minutes Wed afternoon. If that doesn't begin a sell off, then could continue to an unexpected level above 4100 towards Dec FOMC

SPX pumped with declining volume + divergence developing. If FOMC minutes Wed afternoon are only slightly bad but play into pivot narrative, 'digesting' recent days may be all we get, sending us higher. Anticipating unexpected rejection when FOMO sets in....

The trendline ~4100 may be pierced through to trap bears expecting similar rejection as in August. But with nothing really till mid December and big caps already having dumped hard, still room for dumb money to be left holding the bags....

At some point the inflation/FED pivot narrative is going to shift to a recession narrative, but that has to be once the current obsession runs out of gas. Could be December....

In any case, once it's understood by dumb money that FED pivot and reduction in inflation aren't going to provide us with the moon because of companies are tanking because of recession, we'll grind down further with several flushes....

SPX bottoms after FED pivot as focus turns from this to the impact of recession on companies. The big change since previous bear markets is the extra speculators in the market and the hopium addicted trading consequent to that, adding to the financial wreckage...๐Ÿ˜”๐Ÿคก๐Ÿงจ

This post is based on this twitter thread.

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