Increased optimism in the market - 1-Day candlesticks for September closing on green

We are approaching half of the BloodBath month September where crypto is expected to dump to it's lowest since the last 5 months. For over 3 months, the crypto index has been negative on extreme fear that bitcoin will continue to dump reaching levels of $42k but it's surprising to see that sentiments are improving positively.

The crypto fear and greed index has drastically moved from 25 extreme fear to 50 neutral grounds. We have less than 6 days to hear the decision of Fed and bitcoin price has been hovering around $55k to $58k since 1st September till 13th September.

There have been lots of inflows and Outflows in the market causing dumps and pumps. These dumps aren't major dumps but corrections in the market which has brought about lots of liquidations this month for both shorters and those who placed longs.......

Now, if you're to check the chart of bitcoin since September 1st, the 1day candlestick of bitcoin has been closing in greens which raises concerns and hopes. It's almost 6 months since bitcoin reached it all time high and hasn't gone beyond.

This has improved the optimism in the market by some levels though we are still expecting some major dumps, that only FED can determine as they can crash the market with whatever announcement made. This candlesticks are closing on greens and if you want to check historical movement of bitcoin, you'll see that on the 14th of September, 2021 till 1st of October, there have been no significant drop in the market after the dump on the 7th of September, 2021.

If this is to be repeated and FED cuts interest rates to 50 basis point, we would see some longs in the market and the market would rebounce a bit. October is generally known as a good month for crypto in general. We have few days to September. Do we expected some bullish times that month or something different? Let's be watchful while playing smart on trades for those trading.

The expectation that the interest rate would be cut by FED is becoming more consistent and the optimism is very high. Analysts indicates that there's 90% probability that the 50 basis point cut would stand. Even the former president of FED states that the FED should give consideration to the 50 basis point cut.

On the 12th of September, we saw a dump in the market, a small correction followed by the outflow of bitcoin ETF and Ethereum spot ETF in the market. A total net outflow of $20 Million worth of ETH was seen in a single day. If we want to make analysis on the outflows that has been seen this year from ETH spot ETF, it would reach $583 million........

Analysing the bull run this year till next year is still on hands as altcoins will do wonders as there'll be inflow and lots of investments done, projecting that time. As a trader and investor, you need to position yourself in a way you would benefit from the surge anytime from October that's if FED favours interest rate cut. Steem is projected to reach its all time high next year April-may.

There may be significant development seen on the steemit platform. All we need is positioning as we look the market for updates. Don't forget we are still in the BloodBath month and anything mindful can happen.

Sreenshots are from my bybit, binance and telegram app

Disclaimer :Any financial and crypto market information provided in this post was written for informational purposes only and does not constitute 100% investment advice. It's just basic knowledge every crypto trader or investor should have