The rebound is taking place but first resistance arises at 38,400 amidst FEDERAL RESERVE announcements this evening.
The Fed is likely to signal a March interest rate hike and that further policy tightening is coming.
As we have discussed before: The markets and also Bitcoin are Allergic to rate hikes
There is no rate hike expected today, if it comes surprisingly then Bitcoin will suffer.
What is expected is more 'Talking about incoming Rate Hikes' which might let Bitcoin break over this resistance today.
In any case, 79k is our Target for this Year. Not the 20s as many believe.
One Love,
the FXPROFESSOR
The Fed is likely to signal a March interest rate hike and that further policy tightening is coming.
As we have discussed before: The markets and also Bitcoin are Allergic to rate hikes
There is no rate hike expected today, if it comes surprisingly then Bitcoin will suffer.
What is expected is more 'Talking about incoming Rate Hikes' which might let Bitcoin break over this resistance today.
In any case, 79k is our Target for this Year. Not the 20s as many believe.
One Love,
the FXPROFESSOR
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