Dear Readers,

I would like to share the update on Bitcoin movement post the Fed Interest rate hike of 25 bps as expected wide sections of the people.

The FED Governor Jerome Powell said that they don’t have any precedent data on the deeper inflation in the recent times and he said that FED is closely watch this and it would act upon the necessary things- and hinted that a hike of another 50 bps with 25 bps each in the coming meeting.

However he said that the Federal Bank would act appropriately according to the situations that will prevail in the future.

On this announcement, the BTC little bit dumped and immediately transformed to the bump mode and increased USD 1000 and traded around $ 23800 range. At the time of writing this article BTC is trading at USD 23451.

If we see the day chart the RSA is still in the overbought range. Interestingly the Starch RSI is nearing the oversale region.

If we take into account of the halving analysis, it seems to have the last dumping week by next week.  

The USD 25200 is the strong resistance ahead. If will go ahead, BTC will test this resistance point and would start to retrace again. This retrace point will be according to the market conditions.

We can draw the following conclusions.

• One hand it may come down to USD 23000 and start to pump again.
• Or otherwise it may come down to USD 21300 range and would pump ahead.
• The third probability is that it may come down to USD 19700 and take this as a support and would pump ahead!

So watch out this important points in the chart and plan your trades accordingly!