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Next move for Bitcoin BTC price. FOMC 01/11, new FED rate

เพิ่มขึ้น
BINANCE:BTCUSDT   Bitcoin / TetherUS
The excitement in the cryptocurrency market is just beginning. Perhaps this is due to the fact that after the announcement of not very good quarterly data by large companies, the SP500 continued to fall and funds decided to transfer a small part of their capital to "high-risk" assets that are growing in order to level the yield of the overall portfolio. Or perhaps, finally, after 2 years of downtrend, cryptocurrencies are finally on the rise.

Anyway, 8 months ago, we shared with you our thoughts that the BTCUSDT price is probably completing the formation of the "inverted Head and Shoulders" pattern and, accordingly, a medium-term long from $19k to $40k. The idea is worked out below:

At the moment, it looks like BTCUSD buyers are not too willing to let the price drop. Consolidation can still continue for 1-2 days, and it would be nice if the BTC price did not fall below $32800-33000. And then another impulse movement to the $40k area.

P.S: tomorrow is the FOMC meeting and the announcement of the new Fed Funds rate. Currently, market expectations are that there will be no changes and the rate will remain at 5.50%.
Any deviations from the expectations of market players may generate increased volatility on all financial assets.

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