BITCOIN - In Sync with the Price
We say a trader is 'In Sync with the market' when something like this happens and we can call the levels and how the price behaves exactly.
Bitcoin ended up checking 19949 twice again, earlier this morning and just now.
In his testimony to the Senate committee, Powell pledged an "overarching focus" on bringing down decades-high inflation and reiterated that ongoing increases in the policy rate would be appropriate, with the exact pace dependent on the economic outlook.
"We are not trying to provoke, and I don't think we will need to provoke, a recession," Powell said.
Powell's comments came a week after the Fed raised interest rate by three-quarters of a percentage point, its largest increase since 1994. Economists expect a similar move next month, followed by a half-percentage-point rise in September, according to a Reuters poll.
"It's the dovish side of very hawkish ... a little bit less clear and a little bit less than totally committed," said Thomas Simons, money market economist at Jefferies, New York.
"There isn't this we-will-do-whatever-it-takes ironclad commitment that you might expect would be the predecessor to perhaps really aggressive rate hikes that might lead to a rapid decline in output."
One Love,
The FXPROFESSOR
Bitcoin ended up checking 19949 twice again, earlier this morning and just now.
In his testimony to the Senate committee, Powell pledged an "overarching focus" on bringing down decades-high inflation and reiterated that ongoing increases in the policy rate would be appropriate, with the exact pace dependent on the economic outlook.
"We are not trying to provoke, and I don't think we will need to provoke, a recession," Powell said.
Powell's comments came a week after the Fed raised interest rate by three-quarters of a percentage point, its largest increase since 1994. Economists expect a similar move next month, followed by a half-percentage-point rise in September, according to a Reuters poll.
"It's the dovish side of very hawkish ... a little bit less clear and a little bit less than totally committed," said Thomas Simons, money market economist at Jefferies, New York.
"There isn't this we-will-do-whatever-it-takes ironclad commitment that you might expect would be the predecessor to perhaps really aggressive rate hikes that might lead to a rapid decline in output."
One Love,
The FXPROFESSOR
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