The recent speech by Federal Reserve Chairman Powell has sparked great interest and speculation in the financial community.As one of the most influential figures in the global economy, Powell's remarks have significant weight and may affect various fields, including the cryptocurrency market
The recent speech by Federal Reserve Chairman Powell has sparked great interest and speculation in the financial community.
As one of the most influential figures in the global economy, Powell's remarks have significant weight and may affect various fields, including the cryptocurrency market.
Traders and investors are analyzing his statement to gain a deeper understanding of the future direction of monetary policy and its potential impact on Bitcoin and other cryptocurrencies.
In this Bitcoin price forecast, we will study the key points of Powell's speech and explore how they can shape the pattern of Bitcoin in the coming days and weeks.
Watch the live broadcast of Federal Reserve Chairman Jerome Powell: Insights on Monetary Policy
Federal Reserve Chairman Jerome Powell recently provided insights on the central bank's stance and future actions, revealing key points that have attracted market attention:
- The Importance of Negotiation: Powell emphasized the necessity of sincere negotiation and recognized the necessity of reaching an agreement.
- Changing stance: The Federal Reserve only recently expected further tightening, but Powell clarified that no decision has been made on the extent of future tightening.
- Concerns about restrictive policies: Powell expressed concern about the lagging effect of current restrictive policies, indicating a cautious attitude to avoid negative consequences.
- Market interest rate path and Federal Reserve forecast: The difference between market interest rate path and Federal Reserve forecast highlights the importance of data and sustained outlook considerations.
- Economic forecasting: Powell affirmed the role of economic forecasting in guiding the tightening cycle and having a positive impact on market forward pricing.
- Inflation dynamics: Powell discussed the response of inflation to changes in the job market, emphasizing the consistent relationship between labor market weakness and inflation, similar to trends before the pandemic.
- Complementary tools: The Federal Reserve's monetary policy and financial regulatory tools are seen as complementary and play a crucial role in maintaining price stability and a sound financial system.
Chairman Powell's insights provide valuable insights into the Federal Reserve's approach and interesting perspectives worth considering for investors and market participants.
Bitcoin Price
The BTC/USD currency pair is currently facing resistance at the level of $27200, and a strong bullish trend above this point may push the BTC price towards $27700.
The existence of a double topped structure further strengthens this important level, with a breakthrough of $27700 likely driving the BTC to a higher level, with a target of $28200.
Bitcoin PriceTradingview
The BTC/USD currency pair is currently supported at the level of $26600, and falling below this point may lead to a decline towards $26200.
The two widely used technical indicators, Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD), indicate that the market situation of Bitcoin is neutral.
The price of Bitcoin shows volatility, fluctuating above and below the 50 day moving average of the index, indicating that investors have mixed views on the direction of the market.
The level of $26750 is of great significance today. If the price of Bitcoin remains above this level, it may be worth considering buying positions with a target of $27250 and a potential of $27650.
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