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Summary

The video script discusses an upcoming FMC meeting that could cause market volatility, advising viewers to avoid future trades. It suggests that if the market experiences a correction or downturn, support will be found in September, with a recovery expected to start in October. The speaker emphasizes setting 2025 as the target for any buying done in 2024, anticipating a 'bull run' that year. The script also covers Bitcoin's current price range, potential movements for other coins, and trading patterns like the descending triangle. It advises on entry points for buying and the importance of waiting for market confirmation before making trades, especially in light of the FMC meeting's potential outcomes.

Takeaways

• 📅 The FMC meeting is scheduled for today and tomorrow, which may cause market volatility, suggesting traders to avoid future trades.
• 📉 In case of a market correction and downturn, support is advised for traders, especially as September is the last opportunity month.
• 🔄 Recovery in the market is expected to start from October, with a focus on deep buying opportunities.
• 🎯 For any buying done in 2024, the target should be set for 2025, as it is anticipated to be a 'bull run' year, promising good profits.
• 📈 The current price range for Bitcoin is seen around 58,000, with a downtrend movement at 0.8, and Ethereum is seen in the range of 2,282 with a 0.1 side movement.
• 📊 The market overview indicates the need to monitor volume levels; without good volume, significant market movements are unlikely.
• 📈 The scenario for today and tomorrow depends on the FMC meeting, and if there's a price cut in interest rates, it could lead to a good recovery in the market.
• 📊 Bitcoin's chart pattern shows a 'four wave' time entry, indicating a trend reversal from 'lower low, higher high' to 'higher high, higher low', suggesting a market recovery.
• 🔔 The speaker advises holding the current position if the market shows recovery, as the trend is still up, and waiting for volume to increase for a potential recovery.
• ⏳ The speaker emphasizes waiting for the breakout of the descending triangle pattern and closing above 200 EMA before considering a significant market recovery.
• 🌟 The importance of the 62,000 level is highlighted, as it is a key support level that, if broken, could lead to confirmation of a market recovery towards 75,000 to 80,000.

Q & A

What is the significance of the upcoming FMC meeting for the market?

The upcoming FMC meeting is significant as it may influence market volatility, and traders are advised to avoid future trades during this period.

What is the suggested approach for traders if there is a correction or downfall in the market?

If there is a correction or downfall in the market, traders are expected to buy in support as it is September's last opportunity, and recovery is anticipated to start from October.

What is the target for buying in 2024 according to the script?

The target for buying in 2024 should be set for 2025 because it is expected to be a bold run year, which could result in good profits.

What is the current price range for Bitcoin mentioned in the script?

The current price range for Bitcoin is mentioned to be around 58,000, with a 0.8 down trend movement.

What is the importance of volume in the market according to the script?

Volume is crucial in the market as it indicates the movement of maximum coins and tokens. Without good volume, significant market movements are not expected.

What is the current trend pattern for Bitcoin as described in the script?

The current trend pattern for Bitcoin is a descending triangle, which is a bearish pattern indicating a downtrend.

What are the key support levels for Bitcoin mentioned in the script?

The key support levels mentioned for Bitcoin are 200 EMA and 62,000, which are important for determining the next market movement.

What is the strategy if the market shows recovery after the FMC meeting?

If the market shows recovery after the FMC meeting, it's suggested to wait for the breakout of the 62,000 level and then plan the long trade accordingly.

What are the potential targets for Bitcoin if the market recovers?

If the market recovers, potential targets for Bitcoin are 67,500 and then 75,000 to 80,000, depending on the breakout and confirmation levels.

What is the advice for traders regarding the buying range if the market is in a downtrend?

If the market is in a downtrend, the advice is to buy on the first approach, and if the second buying range is missed, not to worry as the next opportunity will be around 50,000.

What is the importance of the daily and weekly time and price according to the script?

The daily and weekly time and price are important as they provide insights into the market's short-term and long-term movements, which help in planning trades.