Eyes on the Fed – It is certainly the most important day of the week for market operators attending the meeting of the FED (US Federal Reserve). We knew it, the banking crisis could fold the cards, and the FED decided to take this into account. Indeed, the FED decides to reduce the rate by 25 basis points. A news that should satisfy the bulls, and Bitcoin could benefit from it.
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The FED decides to lower the rate by 25 basis points, the market is racing
The operators frequent a house of 25 fundamental points, and the FED decided to take account of the banking crisis. As often happens at Fed meetings, the volatility is present :
After the announcement of the rate hike, I Bitcoin (BTC) price and other assets get carried away and print a candle to see you before the dropper. Some operators aim to use theleverage in this kind of moment, because there is lots of volatility. Regardless, Movements are erratics, and one can easily lose feathers in it.
The price of BTC has the possibility of returning to $30,500
For the moment, in 4H time unit, the course is done dismiss at the level of resistance at $28,500 :
The price of Bitcoin is at the level of the 4H support at $27,500. If you support yields, sellers could take the opportunity to push to the next support at $26,300. On the other hand, once the will is resumed, the bulls could rebuke the principal. Whatever happens, it will be necessary to break the resistance at $28,500 to return the Bitcoin price to $30,500.
The FED does not surprise market players, and decides to return to the base of 25 points. Bitcoin price could climb above $30,000, but the bulls need to react at the support level at $27,500. Beware, if Bitcoin changes momentum, altcoins could suffer. Indeed, altcoins are already lagging…
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