🔥 Bitcoin & FOMC Interest Rate Decision: What To Watch For
Like most of you know, in a couple of hours the US Federal Reserve will share with the world how much they will increase the interest rates. Remember that lower interest rates = bullish for the markets.
At the moment, there's a 75% expectation that the hike will be 0.75% and a 25% expectation that the hike will be 1%. Naturally, if the FED will increase with 1% we can expect a massive down move. The extremely bearish reaction target for a 1% hike would be 18k.
However, if the FED will only increase by 0.75% we can expect a slightly bullish move. This might be the starting signal for a move all the way back to the top of the channel, think 24k or so.
Obviously, the percentage of the hike will be important. However, what most market participants are watching will be the FED meeting where J. Powell will talk about the outlook of the markets and the interest rate hikes for the coming months. This is where the real direction of the markets will be decided.
My advice would be to wait for what the market will do. Ideally wait until tomorrow, because tonight's initial direction can be a fake out, like a couple of meetings ago.
At the moment, there's a 75% expectation that the hike will be 0.75% and a 25% expectation that the hike will be 1%. Naturally, if the FED will increase with 1% we can expect a massive down move. The extremely bearish reaction target for a 1% hike would be 18k.
However, if the FED will only increase by 0.75% we can expect a slightly bullish move. This might be the starting signal for a move all the way back to the top of the channel, think 24k or so.
Obviously, the percentage of the hike will be important. However, what most market participants are watching will be the FED meeting where J. Powell will talk about the outlook of the markets and the interest rate hikes for the coming months. This is where the real direction of the markets will be decided.
My advice would be to wait for what the market will do. Ideally wait until tomorrow, because tonight's initial direction can be a fake out, like a couple of meetings ago.
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