Forex Signal For BTC/USD: After Hawkish Fed, Bitcoin Still Continues to Retreat.
Forex Signal For BTC/USD: After Hawkish Fed, Bitcoin Still Continues to Retreat.
The pair will likely continue to decline as long as the sellers aim the next key support level at 17,700.
A move above the resistance level at 20,000 will invalidate the bearish view.
Bear Market Outlook
- Sell the BTC/USD pair and take profit at 17,000.
- Add a stop-loss at 21,000.
- Timetable: 1-2 days.
Forex Signal For BTC/USD: After Hawkish Fed, Bitcoin Still Continues to Retreat.
Bull Market Outlook
- Take a buy stop at 20,000 and a profit at 22,000.
- Add a stop-loss at 18,000.
BTC/USD price dropped, then retreated to 18,686 after the Federal Reserve made its interest rate decision. Then, with the effect of the jumbo rate hike, the market returned to 19,950.
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