Bitcoin Price Projections Based on Fed Rate Increases
#thefed #jpow #ratehike #interestrates #federalreserve #usdollar #dxy #thedollar #bitcoin #btcusd #crypto
We all know that the USD is still the global reserve currency. And who governs the strength or weakness of the dollar? Yours truly, JPOW and co. Crypto currency prices are absolutely without question tied to the broader markets and the U.S. dollar. Therefore, we MUST consider how our crypto lead dawg will respond to JPOW's rate decision. With that said, here's what I see in the cards for ole' BTC. Let's start with the worst-case scenario:
[*] JPOW rug pulls the market with an enormous 75 pt hike or more - we drop below our strong and very critical 37550 support, somewhere in the purple
[*] JPOW does the expected 50 point hike & either speaks to another 50 pts hike soon or insinuates such action - we remain below our multi-year resistance level and move sideways-ish, somewhere in the red
[*] JPOW does the expected 50 point hike & either speaks to another 25 pt hike soon or insinuates softer action going forward - we either remain red or it is possible we go yellow again
[*] JPOW only bumps it 25! - Rocket fuel! It's moon time again! Green area. 🚀🚀🚀
Watch closely, everything (and I mean EVERYTHING) hinges upon the FED today!
Press release 2:30 EST (I believe).
Best to you all,