Hey, traders. There is a big event on this week as you know.
Let's see what we should check on this FOMC and how it affect Bitcoin price.
We can see
1. the descending channel had been broken.
2. the price is making 18000 ~ 26000 box pattern.
3. small box pattern between 18000 ~ 22000.
We should check
Wednesday - German Manufacturing PMI, German Unemployment Change, ADP Nonfarm Employment Change, FOMC Statement, Fed Interest Rate Decision, FOMC Press Conference
Thursday - ECB President Lagarde Speaks, British Composite PMI, British Services PMI, BoE Interest Rate Decision, BoE Gov Bailey Speaks, US Initial Jobless Claims, US ISM Non-Manufacturing PMI
Friday - British Construction PMI, ECB President Lagarde Speaks, US Nonfarm Payrolls, US Unemployment Rate
We can expect
1. breaking small box pattern and the price heading to 26000.00
2. the price dropping to 18000.00 by resistance on 22000.00 and keeping the small box pattern
Today, we have FOMC Statement and we finally can figure out if Fed regualate the monetary policy or not.
If Fed shows less hawkish as market expect, Bitcoin price will break the resistance on 22000.00.
But, if not, the price will keep the small pattern and drops for short.
In any case, we are ready to trade. Let's see how it moves.
Thank you for reading and hope this insight was helpful.
Analyzed by Han.
Let's see what we should check on this FOMC and how it affect Bitcoin price.
We can see
1. the descending channel had been broken.
2. the price is making 18000 ~ 26000 box pattern.
3. small box pattern between 18000 ~ 22000.
We should check
Wednesday - German Manufacturing PMI, German Unemployment Change, ADP Nonfarm Employment Change, FOMC Statement, Fed Interest Rate Decision, FOMC Press Conference
Thursday - ECB President Lagarde Speaks, British Composite PMI, British Services PMI, BoE Interest Rate Decision, BoE Gov Bailey Speaks, US Initial Jobless Claims, US ISM Non-Manufacturing PMI
Friday - British Construction PMI, ECB President Lagarde Speaks, US Nonfarm Payrolls, US Unemployment Rate
We can expect
1. breaking small box pattern and the price heading to 26000.00
2. the price dropping to 18000.00 by resistance on 22000.00 and keeping the small box pattern
Today, we have FOMC Statement and we finally can figure out if Fed regualate the monetary policy or not.
If Fed shows less hawkish as market expect, Bitcoin price will break the resistance on 22000.00.
But, if not, the price will keep the small pattern and drops for short.
In any case, we are ready to trade. Let's see how it moves.
Thank you for reading and hope this insight was helpful.
Analyzed by Han.
