Bitcoin's trading plan for the week surrounding the FOMC and interest rates
Bitcoin's Trading Plan Amid FOMC Interest Rate Discussions
The Federal Open Market Committee (FOMC) will convene on Wednesday, September 18, potentially marking a significant moment in monetary policy with its first interest rate cut in years. This decision could impact finance markets profoundly, including leading assets like Bitcoin (BTC).
Analyzing Bitcoin's Price Movement
Cryptocurrency analyst CrypNuevo recommends a defensive trading plan for this week. He anticipates Bitcoin will oscillate within a range near its current price before the pivotal FOMC announcement. Notably, he expects a spike to approximately $61,600, ahead of a potential downturn.
Market Liquidity Projections
Further analysis indicates that this week can attract high liquidity zones, impacting both long and short-position BTC traders. Currently, Bitcoin's order books show higher liquidity leaning upward, suggesting an initial move may be upwards toward $61,600 before any bearish shifts towards $56,600.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.