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FX_Professor
Jan 26, 2022 8:36 AM

BITCOIN- First Test at 38,400 Resistance Long

BINANCE:BTCUSDT60
Bitcoin / TetherUSBinance

Description

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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


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
Trend AnalysisChart PatternsFundamental AnalysisBitcoin (Cryptocurrency)BTCUSDbitcoinforecast
Comments
kashsotoodeh
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I've checked , you are most of the time right Professor
Rad1986
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30K and less. No way for uptrend so soon.
FX_Professor
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@Rad1986, we see how this level plays out first. There is no 'No way' when it comes to Bitcoin
Rad1986
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@FX_Professor, there is no play,
when you see sell preasure.
Oacen
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i see W reverse.
reject at 38.5 revisit 34-35 and after 40+
FX_Professor
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@Oacen, ok, thanks for your input
CoinScalper
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No rate hike today means easy 42k.
FX_Professor
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@CoinScalper, possibly yes. Thank you
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