Bitcoin Price And The Fed Rates Announcement
Bitcoin price continues drawing sideways, along with global markets, in anticipation of today’s Fed rates announcement. Although markets do not expect the Fed to reintroduce the turmoil of earlier this year, there is a chance that the central bank cranks up rates and sends bitcoin and gold on their way higher. The holding pattern in the chart reflects the anticipation leading into the Federal Open Market Committee’s announcement at 19h00 UTC later today, Wednesday. Notice how the momentum indicators have consolidated to the center of their ranges. Another rates hike, although not expected,....
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The bitcoin price chart has reclaimed position above the $680 (Bitstamp) price level. For now it looks like further correction is ruled out. A Fed rates announcement, later today, hangs over global markets. The bitcoin price chart dipped below $680 support for most of today before climbing above this critical level at the time of writing. The market does not want to pursue additional correction, but before we assume trend is up, it would be prudent to wait for the Fed rates announcement at 19h00 UTC. At the previous Federal Open Market Committee announcement, bitcoin disappointed by....
Bitcoin price, like most markets, is crawling into Wednesday’s Federal Open Market Committee rates announcement. The slow rate of progress in the 1hr and 4hr charts is likely to change in the coming 24 hours as a Fed rates announcement looms at 19h00 UTC tomorrow, Wednesday 21 September. Wider market consensus appears to be that the Federal Open Market Committee (FOMC) is unlikely to raise its funds rate tomorrow, and that the Committee will defer a rates hike to December. The announcement should prompt the market to continue advancing toward $680 (Bitstamp) and for price to gain upward....
Bitcoin price sold-off from $470 (Bitstamp) and 3100 CNY earlier today. A Fed rates announcement is widely expected to catalyze global market trends later on Wednesday, yet the bitcoin market just took profit, for good measure, before the Fed even spoke. A Federal Open Market Committee (FOMC) at 19h00 UTC today will make a rates announcement, and the market generally expects the Fed to refrain from hiking today and to do so in July instead. Today’s analysis outlook had remained unchanged since yesterday. Price action was animated below resistance and a continuing rally seemed more and more....
Bitcoin price was massaged lower in the week leading up to the Fed rates hike announcement, and then eagerly traded up on the day. The chart technicals implied a bull trap and the sound of a can being kicked was its closing bell. This analysis is provided by xbt.social with a 3 hour delay. Read the full analysis here. Not a member? Join now and receive a $29 discount using the code CCN29. Bitcoin Price Analysis. Time of analysis: 15h23 UTC. OKCoin 3Month Futures 15-Minute Chart. From the analysis pages of xbt.social, earlier today: The Fed has declined their new unregulated shadow bank....
Bitcoin price reacted little to the Fed’s confirmation of additional rates increases during 2016. Half the market is passively accumulating via limit orders placed just below price, the other half is actively selling at market. In their announcement yesterday, the Federal Open Market Committee retained the target range for the federal funds rate at between 0.25% and 0.5%. The average of policy makers’ new “dot-plots” projects a rate of 0.875% by the end of 2016. The implication is that the Fed will enact two 0.25% rates increases during 2016. The US dollar weakened across the board, on the....