Wen moon? Probably not soon: Why Bitcoin traders should make friends with the trend

Cointelegraph

Published Aug 25, 2022 02:16PM ET

Updated Aug 25, 2022 04:00PM ET

The impact of Federal Reserve policy and Bitcoin’s higher timeframe market structure suggest that BTC price is not yet ready for a trend reversal.

Bitcoin (BTC) price continues to chop below the $22,000 level and the wider narrative among traders and the mainstream media suggests that a risk-off sentiment is a dominant perspective ahead of this week’s Jackson Hole summit.

BTC/USDT daily chart. Source: Tradingview

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