OK, Mary, this is for you, and for all of your crypto-heads out there who have been waiting for that big August push that I spoke of quite some time ago.
But hey, we should all know that right before that really big push, Bitcoin (and by default, the entire crypto space), has a big pullback and the moon boys run for the hills with their tails between their legs. But alas, like a big rubber band, a "death to crypto" pullback typically ushers in that upward momentum we're all waiting for.
Here we are. We've got a week full of mixed messages from the Fed, but as always which will drive down prices further through mid-week (never mind the Monday morning fake-out which is currently in action). However, after the news (and volatility) has cleared, it should end up reversing the direction of bitcoin.
Pay attention to something close to a double-bottom this week, and some upward movement to follow. As always, just when you think BTC is going to keep going, it always pulls back, but no worries if you're taking swing trades or dollar cost averaging for an investment.
With that being said, I have to caution members that APRIL OF NEXT YEAR (2025) should bring in a massive drop in both crypto and the stock market as a whole. Honestly, this drop, along with changes in our federal political leadership (which is, if you haven't realized, a bunch of wealthy elites and foreign interests who have been itching to crash the system and install their own) is a huge threat to BTC! I'm not sure I'll be buying back into crypto after that, but we'll see.
As always, investing in crypto or any asset is highly risky and you should never risk anything you can't afford to lose.
