Bitcoin to rise before Fed rate decision
Hello traders,
Bitcoin price tested 53k support area again and currently is in a correction phase.
I expect BTC price to trade in the range between 53k and 61k before 18th September when the FED expected to cut rates.
After that event all markets might plunge in the short term but in the long term this should be bullish.
Considering all this, it's highly important for Bitcoin price to hold above the 50k area in the short term before all markets will start to recover.
Will Bitcoin manage to hold a 50k support area is another question but if it fails to do so then we might see BTC reaching 47k or even 42k areas.
But in any case I don't expect the price to stay at those levels for too long as it is more likely to recover quickly.
Please, do not forget to boost this idea and leave your comments below, thanks.
Bitcoin price tested 53k support area again and currently is in a correction phase.
I expect BTC price to trade in the range between 53k and 61k before 18th September when the FED expected to cut rates.
After that event all markets might plunge in the short term but in the long term this should be bullish.
Considering all this, it's highly important for Bitcoin price to hold above the 50k area in the short term before all markets will start to recover.
Will Bitcoin manage to hold a 50k support area is another question but if it fails to do so then we might see BTC reaching 47k or even 42k areas.
But in any case I don't expect the price to stay at those levels for too long as it is more likely to recover quickly.
Please, do not forget to boost this idea and leave your comments below, thanks.
Note
As it was expected Bitcoin price almost reached 61k resistance and after that started to fall.
Currently BTC is trading around 58k but it's likely to continue to decline.
The main event for this week remains Fed's rate interest decision on 18th September.
It might be very volitile on the markets during that event.
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