MultiversX Tracker is Live!

We may have to face revisiting 16k tomorrow after the FED announcement

All Cryptocurrencies

by COINS NEWS 75 Views

With less than a day to go until the FOMC announcement, many are watching for the signs, rising inflation is still a problem in America, so the FOMC meeting will reveal whether they will go even harder. Expectations are currently 84-16 for 75bps, so the 0.75% is the better chance.

Interest rates have a very big influence on the market and the crypto market, the NASDAQ is pretty much at make it or break it level. In the case of the NASDAQ, if we fall another 1% or so and break the level, we're back to the mid-July level, which would mean we're still breakeven after basically 2 months of movement.

The situation is no brighter for BTC, where we have crawled below the zone several times and have been able to climb back so far, but now we have not even been able to break out of the zone to the upside - we have only been above 19600 for a short time. The problem is that if this level falls, the next zone below it may come, which is around 16k - the current zone was not only a support on days, weeks, but also on months (!), so breaking it would be a huge warning for us. Perhaps we can still hope for a bounce to 17600 if we start down, but overall if this scenario comes true, we are in for some very grim times.

In the long direction, of course, the important thing would be to break above 19600-20k, so it is worth setting an alert here.

submitted by /u/sith_happenss
[link] [comments]
Get BONUS $200 for FREE!

You can get bonuses upto $100 FREE BONUS when you:
πŸ’° Install these recommended apps:
πŸ’² SocialGood - 100% Crypto Back on Everyday Shopping
πŸ’² xPortal - The DeFi For The Next Billion
πŸ’² CryptoTab Browser - Lightweight, fast, and ready to mine!
πŸ’° Register on these recommended exchanges:
🟑 Binance🟑 Bitfinex🟑 Bitmart🟑 Bittrex🟑 Bitget
🟑 CoinEx🟑 Crypto.com🟑 Gate.io🟑 Huobi🟑 Kucoin.



Comments