Bitcoin holds $20K post-Fed as rising dollar sparks BTC price warning

Bitcoin (BTC) lingered little connected Nov. 3 arsenic the aftermath of the Federal Reserve involvement complaint hike subsided.

BTC/USD 1-hour candle illustration (Bitstamp). Source: TradingView

Trading scope forms with $20,000 astatine center

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hovering conscionable supra $20,000 connected the day.

The brace had seen flash volatility arsenic the Fed hiked 0.75%, fakeout moves up and down triggering liquidations some agelong and short.

Cross-crypto liquidations for the 24 hours to the clip of penning totaled $165 million, information from Coinglass confirmed.

Bitcoin yet finished somewhat little than its pre-Fed level, an country which continued to clasp connected the time arsenic analysts awaited caller cues.

For fashionable Twitter trader Crypto Tony, determination was small request to set an existing forecast involving downside resuming abbreviated term.

“My main bias has not changed arsenic one expect much consolidation and 1 much driblet to nutrient a outpouring similar question to footwear commencement the bull run,” helium told followers connected the day.

Data from monitoring assets Material Indicators highlighted imaginable enactment and absorption zones utilizing trades from the Binance bid book.

$19,000 and $21,000 were successful absorption for expert Maartunn, a contributor to on-chain analytics level CryptoQuant.

"Two bid clusters are added astatine $19000 & $21000. These are placed astir the FOMC," helium noted.

"Will this beryllium the caller trading range?"

BTC/USD bid publication information (Binance). Source: Material Indicators/ Twitter

DXY hints astatine atrocious quality for hazard assets

Fellow trader John Wick meantime voiced caution implicit expanding U.S. dollar spot pursuing the complaint hike.

Related: Bitcoin seller exhaustion hits 4-year debased successful ‘typical’ carnivore marketplace move

U.S. dollar scale (DXY) 1-hour candle chart. Source: TradingView

Uploading charts of the U.S. dollar scale (DXY), helium warned that the interaction of USD gaining crushed would beryllium felt crossed hazard assets.

“First illustration is the wrecking shot weaponized Dollar. Bouncing disconnected caller lows, targeting the apical of the uptrend channel, conscionable arsenic I said it would aft we spot different hike,” helium wrote.

“This volition unit each plus prices including BTC. Notice however RSI staying bullish supra midline.”

U.S. dollar scale (DXY) annotated chart. Source: John Wick/ Twitter

The views and opinions expressed present are solely those of the writer and bash not needfully bespeak the views of Cointelegraph.com. Every concern and trading determination involves risk, you should behaviour your ain probe erstwhile making a decision.