Bitcoin Reacts To 75 Basis Point Fed Rate Hike | BTCUSD September 21, 2022
September 21 2022 - 4:51PM
NEWSBTC
In this episode of NewsBTC’s daily technical analysis videos, we
look at the volatility in Bitcoin price action following the FOMC
meeting today where the Federal Reserve announced a 75 bps rate
increase. Take a look at the video below: VIDEO: Bitcoin Price
Analysis (BTCUSD): September 21, 2022 Bitcoin price
action has been ultra volatile before and after the United
States Federal Reserve announced its decision to increase rates by
75 basis points. Although the market had been considering as much
as a 100 basis points increase from the increasingly hawkish Fed,
the central bank ultimately chose a slightly softer touch. Fed
Chair Jerome Powell expects rate increase to continue well into
next year, with inflation not returning to the normal 2% rate until
at least 2025. Related Reading: When Will Crypto Winter Thaw Out?
Total Crypto Market Cap (TOTAL) September 20, 2022 Crypto Market
Gets Volatile Before & After Fed Rate Hike Decision To
demonstrate the incredibly powerful volatile proper to the
announcement, Bitcoin plunged by 6% in only one minute of trading.
Less than an hour later, the top cryptocurrency retraced almost the
entire move, yet is now struggling to keep its head above $19,000
support. Not just Bitcoin, but anything that trades against the
dollar moved in a similar manner. Bitcoin price plunged 6% in a
single minute of trading action today | Source: BTCUSD on
TradingView.com TD9 Buy Signal Appears On Bitcoin, But Beware Of
Another Low The Bitcoin daily is working on a TD9 buy setup. Beware
of the series perfecting, which requires a lower low beyond $18,300
where bull staged a defensive move earlier this week. A TD9 buy
setup has triggered on the daily, but another low makes perfect |
Source: BTCUSD on TradingView.com Related Reading: WATCH: Bitcoin
Bloody Monday Leads To Reversal Hammer | BTCUSD September 19, 2022
Tug-of-War On Weekly Timeframes Between Bears And Bulls Bitcoin
briefly pushed back into bull territory on the weekly LMACD
histogram. A bullish crossover at these levels on weekly timeframes
has led to a bottom being put in in the past. Cyclically, it
is clear that this is a level to watch for a bullish reversal. By
the time we finished the video above, Bitcoin plunged back down to
the below the $19,000 level and bears successfully uncrossed the
LMACD crossover yet again. A tug of war is going on, and
whoever wins will have the upper hand when it comes to momentum.
Bears continue to prevent a bullish crossover, but bulls are trying
| Source: BTCUSD on TradingView.com Learn crypto technical analysis
yourself with the NewsBTC Trading Course. Click here to access the
free educational program. Follow @TonySpilotroBTC on Twitter or
join the TonyTradesBTC Telegram for exclusive daily market
insights and technical analysis education. Please note: Content
is educational and should not be considered investment
advice. Featured image from iStockPhoto, Charts from
TradingView.com
EOS (COIN:EOSUSD)
Historical Stock Chart
From Jun 2024 to Jul 2024
EOS (COIN:EOSUSD)
Historical Stock Chart
From Jul 2023 to Jul 2024