The key support on August 19 sustained the price till now.
Short-term positions are concentrated. It’s easily broken upon an incident. Today holding above $20497.02 will the price stabilize, but not a reversal. The trend is still going down in the long-term and macro background.
Keep monitoring the key support. Breaking down the support without a pullback in 12 hours will see a slide.
QT reached 26 billion during the last week of August.
QT doubles in September. Fed lifts the upper limit of QT to 95 billion (60 billion treasury bonds + 35 billion MBS). The market is under the pressure of quick and massive liquidity drainage.
The market expected interest rate hike in September: 50bp(44%),75bp(56%)
Short-term positions are concentrated. It’s easily broken upon an incident. Today holding above $20497.02 will the price stabilize, but not a reversal. The trend is still going down in the long-term and macro background.
Keep monitoring the key support. Breaking down the support without a pullback in 12 hours will see a slide.
QT reached 26 billion during the last week of August.
QT doubles in September. Fed lifts the upper limit of QT to 95 billion (60 billion treasury bonds + 35 billion MBS). The market is under the pressure of quick and massive liquidity drainage.
The market expected interest rate hike in September: 50bp(44%),75bp(56%)