Bitcoin price is advancing in “stupendous” mode as the Fed delays a rate hike, once again. Uncertainty and US dollar hedging is the name of the game and bitcoin has received a go-ahead to advance, uninterrupted, for two months.
Bitcoin Price Analysis
Time of analysis: 15h29 UTC
Bitstamp 4-Hour Chart
From the analysis pages of xbt.social, earlier today:
Amazing price action in the 4-hour Bitstamp chart as price pushes the indicators to the extreme in what looks like its final wave to the upside.
“Final” does not mean the “end of trend”, however – the Fed’s delay in hiking interest rates means that bitcoin’s role as a US dollar hedge is sealed until at least December.
Although the largest players will remain long bitcoin, the moment where every buyer has bought