Analysis of BTC Response to Previous FED Rate Cuts
Today's analysis focuses on the impact of past Federal Reserve rate cuts on Bitcoin (BTC) price action. In 2020, following a rate cut, BTC initially experienced a modest increase, followed by a significant decline of approximately -63%. The price found support around the 200-day moving average.
As we approach the potential rate cut on September 18, 2024, we should consider the possibility of a similar market reaction. Key levels to monitor include $28,000 (300-day MA) and $37,000 (200-day MA).
While historical patterns suggest caution, a strong rally to levels around $65,000 to $68,000 could occur. However, if BTC breaks its previous all-time high of $73,000, we might see a structural shift towards a more parabolic trend.
Please note that this analysis is for informational purposes only and does not constitute financial advice. Proceed with caution and avoid making impulsive decisions based on short-term market movements.
As we approach the potential rate cut on September 18, 2024, we should consider the possibility of a similar market reaction. Key levels to monitor include $28,000 (300-day MA) and $37,000 (200-day MA).
While historical patterns suggest caution, a strong rally to levels around $65,000 to $68,000 could occur. However, if BTC breaks its previous all-time high of $73,000, we might see a structural shift towards a more parabolic trend.
Please note that this analysis is for informational purposes only and does not constitute financial advice. Proceed with caution and avoid making impulsive decisions based on short-term market movements.
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إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.