Market Update: Bitcoin surpasses the $35K mark following the FOMC's decision to maintain current Fed funds rates.
Current Trading Price: BTC is currently trading at $35,530, showing resilience in its upward trajectory.
Federal Reserve's Stance: Fed Chairman Jerome Powell adopts a less hawkish tone post-FOMC.
Interest Rates: Fed funds rates remain steady between 5.25%-5.50%, easing market tensions.
Market Sentiment: Investor confidence is bolstered, leading to a 2.25% surge in BTC price overnight.
Technical Indicators - MACD: Indicates a potential bullish trajectory with rising positive histograms.
Technical Indicators - EMA: A golden cross between the 50-day and 200-day SMAs suggests a strong bull run.
Price Prediction: Bitcoin is predicted to continue its uptrend, possibly reaching the $40K mark soon.
ETF Speculation: Ongoing speculation about a Bitcoin Spot ETF continues to act as a bullish catalyst.
Support Levels: The
31K mark stands as a crucial support in case of a price dip.
Market Catalysts: The FOMC meeting outcome and Powell's statements act as key drivers for the current rally.
Upcoming Challenges: Bitcoin faces the challenge of sustaining its momentum above the $35K level to continue its rally.
Current Trading Price: BTC is currently trading at $35,530, showing resilience in its upward trajectory.
Federal Reserve's Stance: Fed Chairman Jerome Powell adopts a less hawkish tone post-FOMC.
Interest Rates: Fed funds rates remain steady between 5.25%-5.50%, easing market tensions.
Market Sentiment: Investor confidence is bolstered, leading to a 2.25% surge in BTC price overnight.
Technical Indicators - MACD: Indicates a potential bullish trajectory with rising positive histograms.
Technical Indicators - EMA: A golden cross between the 50-day and 200-day SMAs suggests a strong bull run.
Price Prediction: Bitcoin is predicted to continue its uptrend, possibly reaching the $40K mark soon.
ETF Speculation: Ongoing speculation about a Bitcoin Spot ETF continues to act as a bullish catalyst.
Support Levels: The
31K mark stands as a crucial support in case of a price dip.Market Catalysts: The FOMC meeting outcome and Powell's statements act as key drivers for the current rally.
Upcoming Challenges: Bitcoin faces the challenge of sustaining its momentum above the $35K level to continue its rally.
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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.
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.