Bitcoin (BTC) now plays a bit of a stablecoin role for us. Yesterday’s trading day was more or less without volatility, despite the announcement FOMC minutes there were no dynamic price fluctuations. The daily close was therefore more or less at the same price as the trading day opened.
Otherwise, FOMC minutes show that the Federal Reserve is playing nothing and is actually taking a hawkish stance. In March, not only should interest rates increase, but they will probably also inform us about the course of the balance reduction (quantitative tightening), which is inflated to almost $ 9 trillion. We will discuss this topic in more detail today stream.
Current situation at 1D BTC / USD
Bitcoin therefore stays in close proximity S/R level $ 42,000 and two moving averages – 20 days a 50 days. Without any more visible price movement, bitcoin strengthens its position. Otherwise, be sure to note that on volume profile the low volume node is gradually filled.
The course has spent so much time near $ 42,000 this year that the profile around this level has started to change a lot. So we don’t have a gap like $ 52,000 anymore. I would just say that this is more of a bull signal. Respectively, this means that the market sees the $ 42,000 as an opportunity for accumulation.
In conclusion
Bitcoin is currently in tongs on two sides. And it may take some time to get out of it. Looking at earlier consolidations near $ 42,000, we should see bigger action next week at the latest.
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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