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Bitcoin / TetherUS
Long

Rate Cuts Play out cup and handle pattern

By chartzilla
FOMC Rate Cut:

  • The Federal Reserve cut rates by 50 basis points in September 2024, aiming to boost economic activity as inflation eases.

  • This cut provides increased liquidity and lowers borrowing costs, likely benefiting speculative assets.


Bitcoin’s Cup and Handle Pattern:

  • The cup and handle pattern in Bitcoin suggests a bullish breakout with a potential target of $120,000.

  • Lower interest rates increase investor demand for Bitcoin, encouraging price gains.

  • The favorable monetary environment supports a move toward this target, as investors seek higher returns in alternative assets like cryptocurrencies. BTCUSD
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