CandleFocus Bitcoin Price Prediction: Fed’s Upcoming Decision Could Spark Bull Run, Pushing Bitcoin Towards $70K
2024-09-18
Author: Content Editor
The news content discusses the current resistance level faced by Bitcoin and the potential impact of the upcoming Federal Reserve meeting on the market. The market expects a rate cut, with a higher chance of a 0.5% reduction. Analysts suggest that a larger rate cut would be bullish for the market, while a smaller cut could lead to a bearish reaction. The article also provides a Bitcoin price prediction, highlighting key resistance and support levels. The short-term trend for Bitcoin is bullish, but within a larger bearish trend. A new bearish divergence has appeared on the 8-hour chart, indicating a potential pullback or sideways movement.
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