Bitcoin price dropped as low as $42,510 on Wednesday after JPOW wrote about plans to raise rates and taper this year. This information has been recycled by FED officials since at least August 2021. If they are so eager to get hawkish why don’t they just start today?
Horizontal Trendline Support & Weekly Moving Average in Focus
- The key momentum 58 week moving average ($45,250) has been breached, but could still be re-claimed before the candlestick closes for the week.
- The proverbial floor everyone was watching at $45,900 failed, although the chart still looks similar to the May-June period of 2021.