Hello, little debriefing on BTC!
We held the first support (some slight wicks below because of the FED meeting)
[Fundamental analysis:
During the FED conference 2 days ago, the market tried to frontrun an announcement of a pause in the rate hike but was quickly calmed down by mr Powell. Indeed Powell did not announce any slowdown but instead said that the final value of rates would be higher than expected.
The current 0.75 bps hikes could be reduced starting in January.
[Technical analysis:
Previous TA support has been held and validated. I expect a continuation of the bullish momentum, at least until the target of the triangle.
If we break the second resistance, big rise is expected. But I doubt that this resistance will break at first, probably some consolidation higher.
We held the first support (some slight wicks below because of the FED meeting)
[Fundamental analysis:
During the FED conference 2 days ago, the market tried to frontrun an announcement of a pause in the rate hike but was quickly calmed down by mr Powell. Indeed Powell did not announce any slowdown but instead said that the final value of rates would be higher than expected.
The current 0.75 bps hikes could be reduced starting in January.
[Technical analysis:
Previous TA support has been held and validated. I expect a continuation of the bullish momentum, at least until the target of the triangle.
If we break the second resistance, big rise is expected. But I doubt that this resistance will break at first, probably some consolidation higher.