Now that FOMC is over and the FED finally cut interest rates by 25bps, what does this mean for BTC in the short term future and beyond?
It has been known for a while that the September FOMC would bring a cut to interest rates and that is what we got, generally this was priced into the market and despite some low time frame volatility not much has changed in terms of % move in the last day.
However, the macro does look bullish from here. Flipping $117,500 opens up the possibility of a range high test. For me this is the direction I'm leaning towards given the macro and how seasonality suggests a stronger end to the year especially after a rate cut.
Should BTC fail to break above the grey box BTC stays within the same constraints it's had for the last month.
It has been known for a while that the September FOMC would bring a cut to interest rates and that is what we got, generally this was priced into the market and despite some low time frame volatility not much has changed in terms of % move in the last day.
However, the macro does look bullish from here. Flipping $117,500 opens up the possibility of a range high test. For me this is the direction I'm leaning towards given the macro and how seasonality suggests a stronger end to the year especially after a rate cut.
Should BTC fail to break above the grey box BTC stays within the same constraints it's had for the last month.
Note
Rejection at the range highs after flipping the midpoint with strength. Consolidation under the highs would be very bullish. Note
New All Time High for BTC!Note
Despite such a violent move on Friday, BTC remains rangebound.I do think flipping the grey zone may be a challenge but that is definitely the battleground for the week ahead.
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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.