Bitcoin traders await FOMC, Powell as BTC price hits new 1-month high

1 year ago

Bitcoin (BTC) acceptable caller one-month highs connected the Dec. 14 Wall Street unfastened connected the time of cardinal events for the United States Federal Reserve.

Bitcoin bullish with Ustocks into FOMC

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $18,126 connected Bitstamp, beating the $18,106 precocious from the time prior.

U.S. stocks edged higher arsenic markets eagerly awaited feedback from the Fed aft the November Consumer Price Index (CPI) people showed ostentation slowing beyond expectations.

Dec. 14 was acceptable to spot a determination connected complaint hikes for the period from the Federal Open Market Committee (FOMC), unneurotic with a code from Fed Chair Jerome Powell.

The second lawsuit tends to spark considerable volatility, with pundits intimately scrutinizing Powell’s connection for hints astir longer-term economical policy.

“With FOMC coming up today, we're astatine a important stage,” fashionable trader Crypto Ed summarized successful a Twitter thread.

“A expanse of 18,2k liquidity is what everyone is looking for. Max symptom would beryllium a godlike pump and leaving everyone behind.”

Crypto Ed nevertheless warned that an upward reversal for the U.S. dollar scale (DXY), combined with a stepwise diminution successful stocks, would scupper Bitcoin bulls’ euphoria.

“A decoupling would beryllium nice, but unlikely,” helium added.

Michaël van de Poppe, laminitis and CEO of trading steadfast Eight, was wide much bullish connected BTC.

“The markets fell from $20K to $15.6K owed to the FTX collapse. We're presently trading astatine $18K, somewhat higher than the debased successful June,” helium told Twitter followers successful 1 of respective posts connected the day.

“I recognize the bearish thesis, but this is honestly a motion of spot for Bitcoin.”

Prior to that, Van de Poppe had given upside targets of up to $18,300, with $17,200 needing to prolong arsenic support.

$12,000 BTC waits successful the wing

Entertaining a bearish extremity to events, traders including Crypto Tony and Il Capo of Crypto went against the atom connected the day.

For Crypto Tony, a travel as debased arsenic $10,000 was “not retired of the question yet,” portion Il Capo of Crypto produced a frank forecast of an imminent capitulation.

“Simple,” helium commented, with a illustration giving $12,000 arsenic a enactment portion to cushion the fall.

The views, thoughts and opinions expressed present are the authors’ unsocial and bash not needfully bespeak oregon correspond the views and opinions of Cointelegraph.

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