Market Overview and Bitcoin Price Analysis Short-Term (15/12)
BTC Technical Analysis
Current trend BTC has peaked around 17600 - 18400. The bottom hard supports are 17050, 14650, 12100…
Short term on the H4 frame, BTC is finding the nearest support at 17300 - 17500.
📈Long (surf): 17500 - 17300
SL: 17250
City: 17900
📉Short (preferred): 2 Plan
Plan 1: Short 17900
Plan 2: BTC breaks below 17000, then wait to retest 17300 Short
City both 2: 16200
Market Overview
As investors expected, after a two-day meeting, the Fed decided to raise interest rates by 50 basis points and raise the target range to 4.25%-4.5%, the highest level in 15 years. This increase is gentler than the previous four 75 basis point increases.
However, in his post-meeting speech, Fed Chairman Jerome Powell said the agency will continue to raise interest rates, with an estimated target of 5.1% higher than the 4.5% rate set by the Fed. out last month.
Bitcoin, currently trading around $17,650, is up slightly from its December 13 opening price. BTC price has entered a key resistance area but has not shown enough bearish strength to end the rally. Accordingly, the next upside target is $18,962.
The altcoin market is currently showing a bearish signal in the short term, as most of the projects in the top 20 are down slightly. In which, Shiba Inu (SHIB), Dogecoin (DOGE) and Litecoin (LTC) are the 3 worst performing projects when evaporating more than 4% during the day. Other projects such as BNB (BNB), XRP (XRP), Cardano (ADA), Polygon (MATIC), Uniswap (UNI)… also lost 2-3% of their value. Ethereum (ETH) has also failed to hold the $1,300 mark as it has dropped 2.4% on the day and is currently trading around $1,285.
Current trend BTC has peaked around 17600 - 18400. The bottom hard supports are 17050, 14650, 12100…
Short term on the H4 frame, BTC is finding the nearest support at 17300 - 17500.
📈Long (surf): 17500 - 17300
SL: 17250
City: 17900
📉Short (preferred): 2 Plan
Plan 1: Short 17900
Plan 2: BTC breaks below 17000, then wait to retest 17300 Short
City both 2: 16200
Market Overview
As investors expected, after a two-day meeting, the Fed decided to raise interest rates by 50 basis points and raise the target range to 4.25%-4.5%, the highest level in 15 years. This increase is gentler than the previous four 75 basis point increases.
However, in his post-meeting speech, Fed Chairman Jerome Powell said the agency will continue to raise interest rates, with an estimated target of 5.1% higher than the 4.5% rate set by the Fed. out last month.
Bitcoin, currently trading around $17,650, is up slightly from its December 13 opening price. BTC price has entered a key resistance area but has not shown enough bearish strength to end the rally. Accordingly, the next upside target is $18,962.
The altcoin market is currently showing a bearish signal in the short term, as most of the projects in the top 20 are down slightly. In which, Shiba Inu (SHIB), Dogecoin (DOGE) and Litecoin (LTC) are the 3 worst performing projects when evaporating more than 4% during the day. Other projects such as BNB (BNB), XRP (XRP), Cardano (ADA), Polygon (MATIC), Uniswap (UNI)… also lost 2-3% of their value. Ethereum (ETH) has also failed to hold the $1,300 mark as it has dropped 2.4% on the day and is currently trading around $1,285.