With the FOMC meeting maintaining stable fund interest rates, Bitcoin broke through the $35000 mark.After the breakthrough, the released momentum is expected to exceed the $40000 mark
- With the FOMC meeting maintaining stable fund interest rates, Bitcoin broke through the $35000 mark.
- After the breakthrough, the released momentum is expected to exceed the $40000 mark.
With the Federal Open Market Committee of the Federal Reserve maintaining the federal funds rate at a stable level between 5.25% and 5.50%, Bitcoin surged and broke through the $35000 mark. After the Federal Open Market Committee, Federal Reserve Chairman Powell maintains a slightly hawkish view of the future. In addition, Powell stressed that the rise in the yield of US treasury bond bonds is a key reason for the tense financial situation.
DTCC explained that the emergence of stock codes is common for any potential ETF and eliminates the fog of approval. However, under such shock waves, Bitcoin price forecasts indicate that its upward trend will soon reach the $40000 mark.
After breaking through the round bottom, Bitcoin prices continued to strive to break through the strong supply of $35000. Bitcoin prices rose 37% to reach $35000, causing the long-term candle chart to move horizontally for more than a week.
However, the recent FOMC meeting showed that the hawkish stance of the Federal Reserve has eased, thereby boosting investor confidence. It's a relief that Bitcoin prices increased by 2.25% last night.
Currently, BTC prices are at $35530, with an intraday increase of 0.28%, making it difficult to maintain bullish momentum. Nevertheless, an improvement in emotions can drive a breakthrough rebound and unleash trapped energy.
Technical indicators:
MACD:The MACD line avoids bearish crosses and may quickly return to a bullish trajectory. In addition, the integrity chart shows an upward trend.
EMA:On the 50th and 200th, EMA maintained a positive trend. In addition, the 50 day and 200 day simple moving averages have a golden cross, increasing the likelihood of a bull market.
Will Bitcoin reach $40000 before 2024?
With the Federal Open Market Committee meeting bringing about a new bull market in Bitcoin prices, strong bulls are starting a new rebound. In addition, the expectation of spot ETFs in Bitcoin remains a catalyst for bulls to prepare for a new sprint.
Considering that the upward trend remains above the $35000 mark, $40000 will be the next stop for Bitcoin. On the contrary, if the price of Bitcoin falls below $35000, it may retest the $31000 mark.
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