Bitcoin Price At Critical Support Pre-FOMC

Bitcoin Price At Critical Support Pre-FOMC

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Bitcoin cost slumped overnight. Markets are commencement to back forward of today’s Fed rates announcement.

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Bitcoin Price Analysis

Time of analysis: 12h00 UTC Wednesday

Bitstamp 1-Day Candle Chart

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From a research pages of xbt.social, progressing today:

Overnight, cost sole off to support insurgency during a prior low (horizontal blue zone). Although a pierce was expected in yestersay’s analysis, it is a empathize to see this growth in a draft given it tests a bullish opinion to a reduce limit.

The awaiting stays that a marketplace will use a Fed proclamation to continue advance, though traders should refrain from holding position until a instruction is transparent – presumably usually tomorrow or on Friday.

Although during a reduce limit, a bullish opinion stays valid:

A) 1day MACD stays above 0 (magenta circle).

B) 1day stochastics are descending divided from limit (blue circle), yet, are flashing dissimilarity (blue dots) – something that mostly (but not always) happens

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