Bitcoin Price Advance And The Fed Expected To Raise Rates

Bitcoin price has begun advance and yesterday covered a $10 distance from $276 to $286 (Bitstamp). The current technical configuration is bullish and the level we watch with interest is $300.

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Bitcoin Price Analysis

Time of analysis: 05h12 UTC

Bitstamp 1-Hour Chart

Bitstamp 1-Hour Chart

From the analysis pages of, earlier today:

The Bitcoin price chart is in a bullish state across all timeframes: from 5-minutes all the way up to the 1-week chart: trading above both the 20MA and 200MA in each case.

Interesting that this launch higher coincides with the first signs heralding global market turmoil, as the Fed must now raise rates according to their own clumsy determination, and the Emerging Markets start pushing up rates as a counter-countermeasure! On the first word of positive US Unemployment Claims data the EM bellwether South Africa, raised rates by 25 basis points. Few market commentators saw that one coming and the global lock-step changes rhythm.

US investors will now

Read more ... source: CryptoCoinsNews