🚀 Bitcoin Price Prediction Following Fed Chair Powell's Speech – Is the Bear Market Over? 📈
Hey crypto enthusiasts! The recent speech by Fed Chair Powell has set the financial world abuzz with speculation and intrigue. You know we had to dive in and analyze how this could impact the Bitcoin market. Buckle up for some insights!
🔍 Powell's Remarks: Market Game-Changer or Just Hype?
As one of the most influential figures out there, Powell's words carry serious weight. Traders and investors are hanging onto every syllable to decipher the future of monetary policy and its effects on Bitcoin and other cryptocurrencies. Let's break it down:
✅ Negotiation Importance: Powell emphasizes the need for good faith negotiations and the art of compromise to achieve positive outcomes.
✅ Evolving Stance: The Fed's future tightening plans are still up in the air, as Powell clarifies that no concrete decisions have been made yet.
✅ Concerns about Restrictive Policy: Powell acknowledges the risks of the current restrictive policy and takes a cautious approach to mitigate any negative consequences.
✅ Market Rate Path vs. Fed's Forecast: The discrepancy between market expectations and the Fed's projections highlights the significance of data and ongoing considerations.
✅ Economic Projections: Powell recognizes the value of economic projections in guiding tightening cycles and shaping market sentiment.
✅ Inflation Dynamics: Powell delves into the relationship between the job market and inflation, drawing parallels to pre-pandemic trends and highlighting the importance of monitoring labor market slack.
✅ Complementary Tools: The Fed's monetary policy and financial oversight tools work hand in hand to maintain price stability and a strong financial system.
📊 Bitcoin Price: Charts, Resistance, and Potential Targets
Now, let's shift our focus to the BTC price action. Here's what we're seeing:
💪 Resistance at $27,200: Bitcoin is currently facing a tough resistance level. If it can break through this barrier, we could witness a strong bullish movement, aiming for $27,700 and beyond.
⚡️ Double Top Pattern: The presence of this pattern adds weight to the significance of the resistance level. A breakthrough at $27,700 might unleash Bitcoin's true potential, targeting $28,200.
⏰ Support at $26,600: On the flip side, we've got a solid support level. A break below $26,600 could lead to a decline towards $26,200.
📈 Technical Indicators: The RSI and MACD indicators indicate a neutral market condition for Bitcoin. The 50-day exponential moving average reveals a mix of sentiments among investors.
💰 Action Time: Watch that $26,750 Level!
Bitcoin's price has been displaying some volatility, but fear not, there's opportunity in the air. If Bitcoin can hold above the $26,750 level, it might be worth considering buying positions, setting your sights on $27,250 and potentially even $27,650.
📢 Stay Tuned for More Updates!
That's the scoop, folks! Keep an eye out for further developments as we continue to navigate the ever-exciting world of Bitcoin. Stay motivated, stay informed, and let's ride this crypto wave together! 🌊💪 #BitcoinRevival #PowellEffect #CryptoCommunity
Hey crypto enthusiasts! The recent speech by Fed Chair Powell has set the financial world abuzz with speculation and intrigue. You know we had to dive in and analyze how this could impact the Bitcoin market. Buckle up for some insights!
🔍 Powell's Remarks: Market Game-Changer or Just Hype?
As one of the most influential figures out there, Powell's words carry serious weight. Traders and investors are hanging onto every syllable to decipher the future of monetary policy and its effects on Bitcoin and other cryptocurrencies. Let's break it down:
✅ Negotiation Importance: Powell emphasizes the need for good faith negotiations and the art of compromise to achieve positive outcomes.
✅ Evolving Stance: The Fed's future tightening plans are still up in the air, as Powell clarifies that no concrete decisions have been made yet.
✅ Concerns about Restrictive Policy: Powell acknowledges the risks of the current restrictive policy and takes a cautious approach to mitigate any negative consequences.
✅ Market Rate Path vs. Fed's Forecast: The discrepancy between market expectations and the Fed's projections highlights the significance of data and ongoing considerations.
✅ Economic Projections: Powell recognizes the value of economic projections in guiding tightening cycles and shaping market sentiment.
✅ Inflation Dynamics: Powell delves into the relationship between the job market and inflation, drawing parallels to pre-pandemic trends and highlighting the importance of monitoring labor market slack.
✅ Complementary Tools: The Fed's monetary policy and financial oversight tools work hand in hand to maintain price stability and a strong financial system.
📊 Bitcoin Price: Charts, Resistance, and Potential Targets
Now, let's shift our focus to the BTC price action. Here's what we're seeing:
💪 Resistance at $27,200: Bitcoin is currently facing a tough resistance level. If it can break through this barrier, we could witness a strong bullish movement, aiming for $27,700 and beyond.
⚡️ Double Top Pattern: The presence of this pattern adds weight to the significance of the resistance level. A breakthrough at $27,700 might unleash Bitcoin's true potential, targeting $28,200.
⏰ Support at $26,600: On the flip side, we've got a solid support level. A break below $26,600 could lead to a decline towards $26,200.
📈 Technical Indicators: The RSI and MACD indicators indicate a neutral market condition for Bitcoin. The 50-day exponential moving average reveals a mix of sentiments among investors.
💰 Action Time: Watch that $26,750 Level!
Bitcoin's price has been displaying some volatility, but fear not, there's opportunity in the air. If Bitcoin can hold above the $26,750 level, it might be worth considering buying positions, setting your sights on $27,250 and potentially even $27,650.
📢 Stay Tuned for More Updates!
That's the scoop, folks! Keep an eye out for further developments as we continue to navigate the ever-exciting world of Bitcoin. Stay motivated, stay informed, and let's ride this crypto wave together! 🌊💪 #BitcoinRevival #PowellEffect #CryptoCommunity
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🔮Crypto has ‘lost its shine’ for institutional investors, says Northern Trust executive
According to Justin Chapman, the head of digital assets and financial markets at Northern Trust,
According to Justin Chapman, the head of digital assets and financial markets at Northern Trust,
institutional investors have grown disinterested in crypto since 2022, and their appetite for it has yet to reignite, even amidst this year's uptrend. Speaking at the Digital Assets Week conference in San Francisco, Chapman noted that institutions have shifted their focus to the underlying blockchain technology of cryptocurrencies. However, Northern Trust remains prepared with the necessary capabilities should client interest in crypto assets rebound. While the financial giants at the conference expressed enthusiasm for blockchain's potential in tokenizing real-world assets, Chapman highlighted the current quietness in the institutional space and the lack of rebound after the challenges faced last year. The road ahead remains uncertain, but Northern Trust stands ready for the next chapter in crypto's evolution. 🚀#BTC CME
Price is at local resistance
CME Gap formed between 26900$ and 27915$
Short-term correction is likely to occur
Price is at local resistance
CME Gap formed between 26900$ and 27915$
Short-term correction is likely to occur
📊 Bitcoin Chart Analysis 📚
Time Frame - 4 Hour (LTF)
Fresh Week. Fresh lines. Although I am Bullish but i don't do fomo buy the resistance. In daily we are approaching Descending trendline resistance in confluence with horizontal Resistance at 28.5k. Also we have Daily MA50 around 28.2k (lagging indicator describing short Term trend). So unless we clear 28.2ka-28.k cluster of resistance, it's no brainer to Long mid way. We already have long running from 26.4-26.5k levels.
Those who missed, I've drawn most probable scenario where we can go long. I'm hoping for a successful Retest of 27.4k resistance turned support. Will watch PA at those levels and if needed, will add to our longs.
Time Frame - 4 Hour (LTF)
Fresh Week. Fresh lines. Although I am Bullish but i don't do fomo buy the resistance. In daily we are approaching Descending trendline resistance in confluence with horizontal Resistance at 28.5k. Also we have Daily MA50 around 28.2k (lagging indicator describing short Term trend). So unless we clear 28.2ka-28.k cluster of resistance, it's no brainer to Long mid way. We already have long running from 26.4-26.5k levels.
Those who missed, I've drawn most probable scenario where we can go long. I'm hoping for a successful Retest of 27.4k resistance turned support. Will watch PA at those levels and if needed, will add to our longs.
#Bitcoin real time analysis and possible scenario
Shrimp Entities (< 1#BTC) continue their aggressive accumulation of #Bitcoin recording a monthly increase of +24.6K BTC, with only 224 / 5226 (4.3%) trading days recording a larger expansion, bringing the supply held by Shrimp to an ATH or 1.31M.
The intensity of accumulation is further exemplified by the fact that 160 of these trading days occurred across the last year alone.
The intensity of accumulation is further exemplified by the fact that 160 of these trading days occurred across the last year alone.
JUST IN: 🇷🇺 Russia to use crypto exchanges to settle cross-border transactions.
Top 100 24h Gainers 🚀
GRT $0.1277 +7.58%
INJ $7.32 +6.10%
BSV $34.51 +5.13%
QNT $108.91 +4.91%
LDO $2.10 +4.85%
Top 100 24h Losers 🔻
RNDR $2.52 -5.81%
HT $3.14 -4.43%
CFX $0.3122 -3.69%
SAND $0.5392 -3.62%
OP $1.56 -3.56%
GRT $0.1277 +7.58%
INJ $7.32 +6.10%
BSV $34.51 +5.13%
QNT $108.91 +4.91%
LDO $2.10 +4.85%
Top 100 24h Losers 🔻
RNDR $2.52 -5.81%
HT $3.14 -4.43%
CFX $0.3122 -3.69%
SAND $0.5392 -3.62%
OP $1.56 -3.56%
The cryptocurrency LTC is moving positively, which is good. I expect more strong movement, especially after forming the cup pattern.
The price is currently trading at the $90 level.
My targets are:
1) $108
2) $122
3) $134
I won't set a stop loss in this case, as any pullback represents a new opportunity to reinforce the deal.
The price is currently trading at the $90 level.
My targets are:
1) $108
2) $122
3) $134
I won't set a stop loss in this case, as any pullback represents a new opportunity to reinforce the deal.
Today is weeknd we can see pump with no volume
Its a bull trap all ready with there long thinking that btc will cross 27.4k and will reach 28k
Now be aware of bulltrap on weeknd
Its a bull trap all ready with there long thinking that btc will cross 27.4k and will reach 28k
Now be aware of bulltrap on weeknd
#Bitcoin Bulls Optimistic, Will BTC Hold Above $26.5k?
FOMO kills 99% of traders.
- If you can't follow your rules, just wait.
- If you can't find good setups, just wait.
- If you can't execute your system, just wait.
1000 opportunities every day, but you just need 1-2.
Become a sniper, not a machine gunner 🙌🏻
- If you can't follow your rules, just wait.
- If you can't find good setups, just wait.
- If you can't execute your system, just wait.
1000 opportunities every day, but you just need 1-2.
Become a sniper, not a machine gunner 🙌🏻
Bitcoin Chart Analysis
T. F. Daily
Well Bitcoin finally fell below 25k even after yesterday's Interest rate pause by FED. Bitcoin is following textbook Price Action. Impact of all political & fundamentals events has duly been incorporated into its Price Action. Yesterday btc broke May Low levels and printed bearish impulsive candle causing price to fall below Fib 0.382 as well. Meanwhile we are making last corrective wave C of Elliot wave theory which will likely find its bottom anywhere between 23.2k (Fib 0.5) to 24.8k.
What to expect in Short Term ?
As long as we are above 24.7k, Expect bitcoin to make bearish retest of May Low at 25.7k delivering some pain to late shorters before next leg down.
Trading Tip:
In these type of challenging market scenarios for Altcoins, Bitcoins is the true safe haven. If you guys manage to survive 2023 crypto winter, you guys will deserve all the gains Bitcoin delivers when it gets hot around halving season in 2024. Good to start Spot accumulation with lower bids at 23.5k
T. F. Daily
Well Bitcoin finally fell below 25k even after yesterday's Interest rate pause by FED. Bitcoin is following textbook Price Action. Impact of all political & fundamentals events has duly been incorporated into its Price Action. Yesterday btc broke May Low levels and printed bearish impulsive candle causing price to fall below Fib 0.382 as well. Meanwhile we are making last corrective wave C of Elliot wave theory which will likely find its bottom anywhere between 23.2k (Fib 0.5) to 24.8k.
What to expect in Short Term ?
As long as we are above 24.7k, Expect bitcoin to make bearish retest of May Low at 25.7k delivering some pain to late shorters before next leg down.
Trading Tip:
In these type of challenging market scenarios for Altcoins, Bitcoins is the true safe haven. If you guys manage to survive 2023 crypto winter, you guys will deserve all the gains Bitcoin delivers when it gets hot around halving season in 2024. Good to start Spot accumulation with lower bids at 23.5k
Forwarded from 🇩🇪 Crypto Germany | CryptoGermany | Krypto Deutschland 🇩🇪
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