🔥 Bitcoin Found Support After FOMC: Weekend Analysis

A couple of days ago I made an analysis on my expectation about the price movement after Wednesday's FOMC meeting. The initial move was bearish, as expected, but the $18.5k support area held stronger than initially anticipated.

Most striking was how BTC held it's price relatively stable, while the stock markets faced heavy sell-offs after the FOMC. To me, this is an indication of short-term strength. So, my weekend projection will be slightly bullish.

In my view, BTC can see a minor weekend rally. I'm looking at a $20k target in case BTC breaks through the top purple resistance. However, a reversal would mean further consolidation within the current range.

Keep in mind that my long-term view is still bearish. Stocks are likely going to make new yearly lows, which means that BTC will follow at some point.