This week, the Fed announced its interest rates decision, raising by 25bp. The pace of tightening monetary policy was in line with expectations, and the market did not panic. On the contrary, the effect of boot landing appeared in various risky assets. U.S. stocks and cryptocurrency assets have rebounded significantly. Although 2022 will still be dominated by a tightening pressure, whatever, at least before next FOMC, the bullish power what have been suppressed for half a year have a huge stage to perform.
With the announcement of the interest rate decision, the market will focus on the regional crisis again this week. With no substantial progress in the negotiations, it is very likely that one of them will take intense actions in exchange for bargaining chips. This will be the main factor affecting risk assets this week.
After the range narrowed last week, the price chose to break upwards. On the whole, during the attacking of bullish power, it is obstructed by bears obviously, unlike the previous weeks where there was always a long candle.The level(42000) is not a strong resistance level, but it took a week to pull the price above it. It is really hard to say that the bulls have taken the control.
Conclusion:Mostly fluctuation. Price hikes will be tougher this week. The upper rail (44500) has been maintained for more than a month. We don't think it will directly break down the upper rail. So we adjust the upper rail as resistance level(44500),and keep the original support (37000) unchanged. After almost half a year of decline, BTC has been fluctuating within the range for more than a month, so if the price can effectively break above new resistance level, then a phased bullish channel will be opened.
If you have any ideas, welcome to communicate with us:)
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
With the announcement of the interest rate decision, the market will focus on the regional crisis again this week. With no substantial progress in the negotiations, it is very likely that one of them will take intense actions in exchange for bargaining chips. This will be the main factor affecting risk assets this week.
After the range narrowed last week, the price chose to break upwards. On the whole, during the attacking of bullish power, it is obstructed by bears obviously, unlike the previous weeks where there was always a long candle.The level(42000) is not a strong resistance level, but it took a week to pull the price above it. It is really hard to say that the bulls have taken the control.
Conclusion:Mostly fluctuation. Price hikes will be tougher this week. The upper rail (44500) has been maintained for more than a month. We don't think it will directly break down the upper rail. So we adjust the upper rail as resistance level(44500),and keep the original support (37000) unchanged. After almost half a year of decline, BTC has been fluctuating within the range for more than a month, so if the price can effectively break above new resistance level, then a phased bullish channel will be opened.
If you have any ideas, welcome to communicate with us:)
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.