Bitcoin Price At Critical Support Pre-FOMC
Bitcoin price slumped overnight. Markets are beginning to rear ahead of today’s Fed rates announcement. Overnight, price sold off to support & resistance at the previous low (horizontal blue zone). Although the move was anticipated in yestersay’s analysis, it is a pity to see this development in the chart since it tests our bullish outlook to its lower limit. The prospect remains that the market will use the Fed announcement to continue advance, but traders should refrain from taking position until a direction is clear – possibly only tomorrow or on Friday. Although at its lower limit,....
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Bitcoin underwent a major downside correction hours after the Federal Open Market Committee (FOMC) released the minutes of its November 5-6 meeting on Wednesday.
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