Bitcoin And Ethereum's Critical Roadmap After The FED's Rate Decision

The latest on the cryptocurrency markets' leading coins Bitcoin and Ethereum following the FED's interest rate announcement.

Although Bitcoin (BTC) has been battling several headwinds in the near term, MicroStrategy has not been deterred from buying more of the cryptocurrency. After the latest purchase of 301 Bitcoin, MicroStrategy's balance moved to 130,000 Bitcoin. This could signal that MicroStrategy and its chairman Michael Saylor are bullish about Bitcoin's long-term prospects. Bitcoin and altcoins are trying to stabilize after the Fed's announcement. While the cryptocurrency leader Bitcoin fell below the immediate support at $18,626 on September 19, the long wick on the candlestick may indicate strong buying at lower levels. The bulls held the level again on September 21, which is seen as a positive sign for the cryptocurrency. One of the important aspects for the buyers to take control over the sellers is the rise of the 20-week exponential moving average (EMA) above the $20,100 level. The BTC/USDT pair could then rise to the 50-day simple moving average (SMA) of $21,363. However, the mentioned level could again act as a stiff resistance zone, but if the bulls overcome this hurdle, the pair could reach $25,211. If, contrary to the assumption, Bitcoin's price falls from the 20-day EMA, the bears may try to push the pair back below the strong support zone, between $18,626 and $17,622. If the bears succeed in their attempt, the pair could witness panic selling and fall as low as $14,000. Ethereum has been falling in a descending channel pattern for the past few days. The price made a small rally from the support line of the channel on September 19. This could be a sign of buying on dips. Follow Global Economic Developments on Social Media! Click here to follow Ieconomy official Facebook account! Click here to follow Ieconomy official Instagram account! Click here to follow Ieconomy official Twitter account!   The investment information, comments and recommendations in this article do not constitute investment advice. Investment advisory services are provided individually, taking into account the risk and return preferences of individuals. The content contained herein is in no way directive and the recommendations are general in nature. These recommendations may not be suitable for your financial situation and risk and return preferences. Therefore, making an investment decision based solely on the information contained herein may not produce results in accordance with your expectations.