Looks like the neckline might break soon. Break at $43-$46K can move price down to retest $30K. If volume doesn't come in at $30K, we might see a move to $24-$25K.
Trade attivo
Major takeaway from FEDs meeting today is:Market expectations currently are for the Fed to start raising its benchmark interest rate in March, which would mean that balance sheet reduction could start before summer.
My thought on what is next for Bitcoin:
With that being said growth stocks and crypto will feel the pressure. Currently BTC has broken the neckline and for any rally it need to break and close above $47,800. Next I believe traders will try to sweep the December 4th candle wick of $40,829. If that doesn't hold, the road to $30K test will begin. All this needs to be supported by some MORE volume.
Trade attivo
Bears are working on $40,829 and trying to break it below the downward channel support. If they are successful, death cross will be in play. They will surely pave the road to $30k.
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