Bitcoin (BTC) bounced off us from the monitored support confluence, which we will show in a few moments. Otherwise, the phenomenon we call fait accompli has manifested itself. The market consensus was such that the Fed would increase interest rates by half a percentage point and announce the start date quantitative tightening.
Which I quickly summarized last night into a separate article (see below). But as I said, we will devote the most time to this topic tonight on stream at 19:00. So if you don’t understand something and have questions, you can ask in the chat.
The Fed has raised rates the most since 2000, with quantitative tightening beginning in June
Current situation at 1D BTC / USD
So again, around $ 37,000 was decent confluence – there is an S / R level of 37,000 USD, the lower edge of the rising channel, the lower edge of the falling wedge and on a weekly 100 weeks moving average. In other words, this is a level where the potential Risk / Reward for bulls is very friendly.
And as the chart shows, bitcoin bounced off. The daylight is impulse and has above average volumes. Quite possibly there was a breakthrough from that falling wedge. However, we have no certainty about that at all. Not to forget, the exchange rate actually broke through the 20-day moving average. That’s why it looks friendly for the bulls at the moment.
Indicators
On the day RSI there was a positive momentum. Respectively, the curve of the indicator broke through that small triangle, which can certainly be taken as a bull signal. On the indicator MACD we recorded a bullish cross again.
In conclusion
Bitcoin is definitely bullish at the moment. Respectively from that short-term point of view, because it was clearly possible to use support confluence for reflection.
However, thanks to yesterday, we know the exact framework of the monetary policy that the Fed has launched. And I’m finally glad we have the black and white status quo ahead of us. Anyway, come to the stream in the evening, where we will devote a lot of time to the topic.
ATTENTION: No data in the video is an investment board. The analysis does not try to predict future price developments. It serves exclusively as educational content on how to approach the market. Before you invest, do your own research and analysis, you always trade at your own risk. The kryptomagazin.cz team strongly recommends individual risk considerations!
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