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⚠️ Market Update:

As confidence in the banking sector may soon be restored following the recent SVB bank failure, customers might begin transferring their funds back into banks. This potential shift could cause a significant outflow of capital from high-risk assets, such as cryptocurrencies. Consequently, the crypto market may experience a considerable price correction or even a black swan event, as the recent rally was primarily driven by the bank's collapse.

Furthermore, Bitcoin (BTC) is currently approaching a key resistance area at $30,000. We will closely monitor the market for possible reversal scenarios. BTC's movement around this critical level could play a significant role in determining the short-term direction of the crypto market.

Crypto market RSI averaged at 49.34 , room to grow and room to weaken. Looking like it's waiting for something to happen.

Tomorrow:
🇺🇸FOMC economic projections 19:00 (GMT+1)
🇺🇸FED interest rate 19:00 (GMT+1)
🇺🇸FED press conference 19:30 (GMT+1)

Daily market Analysis:

Hello Sublime Traders community

Extremely important day today with a major event coming in about one hour .

Short resume on what can happen to the market with multiple scenarios:

🟢Rate hike increase by 50bps - bear trend resumes

🟢Rate hike increase by 25bps(most likely) - mixed market reaction, will be sustained by the press conference that follows shortly after.

🟢Rate hike pause to save the banks - BTC will go in boom mode

🟢Rate hike cut (extremely optimistic) - sell car, wife, house and buy BTC

Anyway , we will be prepared for what comes.

🇺🇸FED increased rates by 25 BP ,for a total of 5% rate .