Bitcoin Maintans the Range After FOMC

22 Eyl 2022

Bitcoin saw some volatility from the FOMC yesterday. We did not get the 'dovish hike' that the markets expected and risk-on assets responded accordingly. We did see support from 18.6K (as anticipated and voiced here in these reports). We are currently seeing a meager pivot off of this level, but there is very little momentum associated with it, so we don't expect to break the next level at 19.5K. If we do, 20K is the next target and we should see resistance there. If 18.6K does not hold, 17.6K will surely provide support.