BTC Daily Update — Fed Hiked, Bitcoin Is Still Losing Ground
Yesterday’s Fed decision did nothing to improve Bitcoin’s structure.
The Fed raised rates by 25bps to 3.75%–4.00% — its first hike in three years and the bigger message was the guidance. 16 of 18 policymakers still see at least one more hike this year.
That is a hawkish backdrop, not the easier liquidity environment Bitcoin bulls would have wanted.
Now back to the chart.
Bitcoin has already lost the 78.2k weekly orderzone and is trading around 76.5k.
The next level I’m watching is 75k.
If 75k holds, then Bitcoin has room to bounce back toward 78.2k. That would be the first area bulls need to reclaim before I start looking back toward 80.4k and the daily orderzone around 81.7k.
But if 75k breaks, then the next support area is around 73k to 73.5k.
Lose that and the 0.618 Fib around 69.5k becomes the next major level on my roadmap.
Momentum is still weak as well, so I’m not seeing anything yet that makes me want to ignore those lower levels.
And we are not finished with macro this week.
The BOJ decision is tomorrow, with markets expecting another hike to around 1.25% and further tightening still on the table. That gives Bitcoin another potential volatility event almost immediately after the Fed.
Key levels I’m watching:
• Current area: 76.5k
• Immediate support: 75k
• Next support: 73k to 73.5k
• Major downside level: 69.5k
• Weekly reclaim: 78.2k
• Next upside level: 80.4k
• Daily orderzone: 81.7k
For me, the roadmap is still straightforward.
Hold 75k and Bitcoin gets another chance to reclaim the range.
Lose it, and 73k becomes the next test.
Lose that, and 69.5k is where my attention goes next.
Fed done.
BOJ next.
The dominoes are still moving.
#SECGrantsInnovationExemptionForTokenizedStocks #BOJHikesRatesTo31YearHigh $BTC
Yesterday’s Fed decision did nothing to improve Bitcoin’s structure.
The Fed raised rates by 25bps to 3.75%–4.00% — its first hike in three years and the bigger message was the guidance. 16 of 18 policymakers still see at least one more hike this year.
That is a hawkish backdrop, not the easier liquidity environment Bitcoin bulls would have wanted.
Now back to the chart.
Bitcoin has already lost the 78.2k weekly orderzone and is trading around 76.5k.
The next level I’m watching is 75k.
If 75k holds, then Bitcoin has room to bounce back toward 78.2k. That would be the first area bulls need to reclaim before I start looking back toward 80.4k and the daily orderzone around 81.7k.
But if 75k breaks, then the next support area is around 73k to 73.5k.
Lose that and the 0.618 Fib around 69.5k becomes the next major level on my roadmap.
Momentum is still weak as well, so I’m not seeing anything yet that makes me want to ignore those lower levels.
And we are not finished with macro this week.
The BOJ decision is tomorrow, with markets expecting another hike to around 1.25% and further tightening still on the table. That gives Bitcoin another potential volatility event almost immediately after the Fed.
Key levels I’m watching:
• Current area: 76.5k
• Immediate support: 75k
• Next support: 73k to 73.5k
• Major downside level: 69.5k
• Weekly reclaim: 78.2k
• Next upside level: 80.4k
• Daily orderzone: 81.7k
For me, the roadmap is still straightforward.
Hold 75k and Bitcoin gets another chance to reclaim the range.
Lose it, and 73k becomes the next test.
Lose that, and 69.5k is where my attention goes next.
Fed done.
BOJ next.
The dominoes are still moving.
#SECGrantsInnovationExemptionForTokenizedStocks #BOJHikesRatesTo31YearHigh $BTC
