So above is the USD which of course has an opposite correlation to BTC. We can identify how price is testing multi year highs, an extremely strong level of HTF supply. On the daily the market is clearly over extended and over bought in need of a correction sooner or later. On the 2H timeframe price is consolidating in a bullish wedge, but students no when this pattern is formed below a level of supply 80% of the time it is a trap to create liquidity in the other direction.
As i said earlier we were expecting BTC to still sweep the lows and complete this ICC at the fib level,but now we have to be a little cautious of the USD here from what i explained above. If DXY breaks to the upside first then dumps, we can expect the opposite on BTC.
Also in the period 2010-2016, the base interest rate in the United States was about 0%, and when the Fed was forced to raise it in 2016, BTC skyrocketed to a maximum of $20,000
All eyes on the Interest rate decision 19:00 GMTI