#BTC market analysis 9/17
Yesterday the Fed raised rates by 25 basis points, and the market action also looked bearish. But in the end, it didn’t really drop, and it didn’t even create new lows. So we believe the decline here is running out of steam, and a rebound is expected next 📈
1) The bulls need to hold the green box. There should be big-player positioning here; as long as 75000 is not broken, the outlook remains bullish.
2) The short-term resistance level is 76700. It has already been tested once. A breakout above it will confirm the start of the rebound.
Yesterday the Fed raised rates by 25 basis points, and the market action also looked bearish. But in the end, it didn’t really drop, and it didn’t even create new lows. So we believe the decline here is running out of steam, and a rebound is expected next 📈
1) The bulls need to hold the green box. There should be big-player positioning here; as long as 75000 is not broken, the outlook remains bullish.
2) The short-term resistance level is 76700. It has already been tested once. A breakout above it will confirm the start of the rebound.
