Breaking: Fed’s rate decision induces high volatility in Bitcoin
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Bitcoin price shows initial reaction to the Fed’s interest rate decision. Day traders witnessing the move are likely to join the sudden influx of capitol targeting 22,000 and 22,614. A break above 21,800 will likely be the cartalyst to prompt the anticipated move.
Bitcoin price at current time auctions at $21,900. Traders should be careful to not get trapped into the wrong side of the move. Liquidity hunts and shakeouts are common occurrences following major news events. A failure to promote additional bullish engulfing candlesticks above $22,100 or a retracement into $21,290 could be early evidence of a smart money trap.
BTC/USDT 5-minute chart
In the following video, our analysts deep dive into the price action of Bitcoin, analyzing key levels of inerest in the market. -FXStreet Team
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