Bitcoin Hinges on the FOMC Statement. What to Expect...

26 янв. 2022 г.

Bitcoin is edging up, and appears to be gearing up for a breakout. However several red triangles on the KRI are confirming resistance at every step of the way here, suggesting downward pressure on this attempt. We have been able to reach 37.7K and 38.2K, which are strong levels coinciding roughly with a Fibonacci level on the daily charts. This will provide strong resistance, but if broken, it's a bullish sign. If we break these levels definitively, then we can easily reattain the 40K's. The FOMC statement this afternoon will be critical. Note that a rate hike is largely priced in, so if/when this happens, we are likely to see a relief rally which could take us back to 40K. We don't expect much action until then as the global markets are all eyeing this event. If we encounter resistance at current levels, we should find support at 34.9K or 33K again.

26 янв. 2022 г.

Заметка

Bitcoin looks poised to break out from 38K!