#BTC falls back to the 77k$ area when, during the night before, after the Fed Chair’s speech…
Basically, it’s still the plan to bring inflation down to 2%, while currently Core CPI is around 3.3%. Because of that, investors all believe that in September there will be no rate cut; even some think rates could be increased… So the market reacted negatively to the news.
However, fundamentally, the Chart has shown weakening momentum and the RSI is diverging when #BTC broke the previous high levels over the past few days, and it’s now approaching a major resistance level around the high of the earlier rebound wave.
Basically, it’s not yet possible to confirm that BTC will end the rebound wave here—we need more time, 2–3 more weeks, to know for sure. And that timeframe is also very close to the next Fed meeting.
Guys, what do you think about adjusting the H4 chart this time to the 74k$ zone?
#Bitcoin #BTC #Ethereum #ETH #Crypto #blockchain #SOL #BNB #ADA #XRP #SUI #ONDO #LINK
Basically, it’s still the plan to bring inflation down to 2%, while currently Core CPI is around 3.3%. Because of that, investors all believe that in September there will be no rate cut; even some think rates could be increased… So the market reacted negatively to the news.
However, fundamentally, the Chart has shown weakening momentum and the RSI is diverging when #BTC broke the previous high levels over the past few days, and it’s now approaching a major resistance level around the high of the earlier rebound wave.
Basically, it’s not yet possible to confirm that BTC will end the rebound wave here—we need more time, 2–3 more weeks, to know for sure. And that timeframe is also very close to the next Fed meeting.
Guys, what do you think about adjusting the H4 chart this time to the 74k$ zone?
#Bitcoin #BTC #Ethereum #ETH #Crypto #blockchain #SOL #BNB #ADA #XRP #SUI #ONDO #LINK
