BTCUSDT: Bitcoin Likely to Continue Bullish After Correction

Bitcoin / TetherUS (BINANCE:BTCUSDT)

Updated

BINANCE:BTCUSDT Bitcoin / TetherUS

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The outcome of the Federal Reserve's upcoming meeting will impact the direction of the BTCUSD pair. Currently, Bitcoin is experiencing a sell-off due to profit-taking, but the market anticipates a further bullish trend due to a slowdown in interest rate hikes. However, a brief bearish correction is expected. It is important to watch the 20000 price level as it may provide support in the future.

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Comment:

So, as anticipated the Fed hiked the rate only by 25 points. This is good news for this idea going forward.
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