đ„đ„Indicator of Why Bitcoin Could Not Rise: Pay Attention to the Level on Binance Before the FED! đ„đ„
Bitcoin experienced significant movement yesterday evening and the price quickly exceeded $ 61,000. However, the sales that followed continued to pull the price down again.
Bitcoin's rise was actually supported by signals from Binance data indicating that a long-term increase was not possible. According to the data received last night, the presence of intense sell orders in the $ 61,000-62,500 range for Bitcoin showed that a possible rally could be limited. During this period, the cryptocurrency market recorded an average increase of 3%.
Ahead of today's meeting of the Federal Open Market Committee (FOMC), Bitcoin is expected to trade in a narrow range and not make a big jump in the short term. It is predicted that if the US Federal Reserve (FED) makes a 50 basis point cut, recession concerns may increase and prices may fall. In addition, it is thought that a 25 basis point cut is overpriced in the market and may cause another decline.
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