FED Announcement Pushes Bitcoin Up, Will BTC Sustain Momentum? - BitcoinEthereumNews.com
BTC records slight gains post interest rates increase from the U.S. FED. Source: बीटीसीयूएसडी ट्रेडिंगव्यू BTCs price reacted to the upside and could continue on this trajectory in the short term, as the FED met market expectations. In the medium term, अनुसार to Material Indicators (MI), the FED projects 7 rate hikes that hint at a potential hawkish approach in monetary policy. This could translate into a headwind for BTCs price and the crypto market. The U.S. financial institution is determined on reducing inflation which currently stands at a multi-decade high. However, reducing inflation could prove difficult in the current macro-economic environment with the war in Ukraine and supply chain obstacles. Bitcoin‘s current price action moves in tandem with MI’s analysis. Expecting a rally in the short term, the analysts are still reticent to call in a BTCs price bottom. Sharing the chart below, MI added: Although Bitcoin has been testing the 200 MA on a 3 Day chart since January and interactions with that range are rare, most traders are looking at the 200 Weekly MA to be a more valid level to bottom test. स्रोत: ट्विटर के माध्यम से सामग्री संकेतक In addition, the analysts believe Bitcoin could resume a more persistent bullish trend if