Greetings,
Today the Federal Reserve (FED) announced an expected rise in interest rates of 0.25%! Jerome Powell also spoke about the effects that inflation may have on society & financial institutions. Inflation will make current assets more valuable, including digital assets (CYRPTOCURRENCY). With all of that being said, BTC has been showing signs of strength, signs of value and real world use in times of crisis (whether it good or bad).
I am looking at BTC going to its next price range. You can see on my chart price ranges are in a purple box.
Current Range;
$37,0000
$44,000
POTENTIAL PRICE RANGE; (10%+)
$44,000
$48,800 <- This price is major resistance & major support
**If we break below $37,000 next support is $33,000
We are working off 4HR candles here, so every time a new candle begins, we are reassessing the market and its structure. Whilst BTC continues to track sideways we can expect ALT coins to continue to go.
I've drawn in what I think may happen to Bitcoin price action over coming days. Lets see how it plays out.
Remember, nothing is guaranteed, control the controllables.
Mogues
Today the Federal Reserve (FED) announced an expected rise in interest rates of 0.25%! Jerome Powell also spoke about the effects that inflation may have on society & financial institutions. Inflation will make current assets more valuable, including digital assets (CYRPTOCURRENCY). With all of that being said, BTC has been showing signs of strength, signs of value and real world use in times of crisis (whether it good or bad).
I am looking at BTC going to its next price range. You can see on my chart price ranges are in a purple box.
Current Range;
$37,0000
$44,000
POTENTIAL PRICE RANGE; (10%+)
$44,000
$48,800 <- This price is major resistance & major support
**If we break below $37,000 next support is $33,000
We are working off 4HR candles here, so every time a new candle begins, we are reassessing the market and its structure. Whilst BTC continues to track sideways we can expect ALT coins to continue to go.
I've drawn in what I think may happen to Bitcoin price action over coming days. Lets see how it plays out.
Remember, nothing is guaranteed, control the controllables.
Mogues
