COINBASE:BTCUSD by efafinans, IS THE DEGREE CONTINUING? BITCOIN LATEST ANALYSIS.. — NewsOfFinance

0.75 Base priced in line with the one-point interest rate decision. bitcoin After the decision was taken in line with expectations, it rose to the level of 22.8k, but after the press statement of FED Chairman Powell, there was selling pressure in the markets due to increasing concerns. As global inflation rises, the risk in the markets will continue to increase. Already yesterday evening, the FED said that they will continue to increase interest rates, but that they can reduce interest rates in 2024. This shows that the risk for the markets will continue. When we look at Bitcoin, there is serious activity in loaded wallets. While some take it and withdraw it to a cold wallet, others transfer it to stock markets. BTC keeps sending. This is an indication that investors are undecided.

When we look at the technical view of Bitcoin, it has broken the drop from September 29, which has been tested 3 times in total. It is momentarily at the top of the 20k-17k support band. If the price enters the band gap, it may consolidate in this area for a long time. There is no indication for the current rise. Increases will be limited unless important data comes. It seems to be early for the reaction of the drop, but if it gets a reaction from this region, the 25.6k level will be our target, then we will expect a decrease to the 21.5k level again as indicated in the chart. In order for the current trend to deteriorate, it should break above the 28.7k-31.9k band. It will be in my expectation of 17.6k unless it falls on it again. Since the bottoms were at the bottom, the effect of the decrease in BTC decreased a little. There are a few projects that I like in altcoins. I will prepare a basket from this region and start collecting goods slowly…