Last Wednesday, the 27th, the Federal Open Market Committee (FOMC) of the US Federal Reserve decided to raise the interest rate in the country, which rose by 0.75 percentage points. The announcement was reflected in the rising price of bitcoin and other crypto assets.
By the speech of Fed President Jerome Powell, the messages were a little more ‘dovish’ – an expression that indicates an accommodative monetary policy, which chooses to keep interest rates low – which generated optimism in the market amid high inflation and economic slowdown.
Thus, from the short-term perspective, there has been a reaction by buyers in the region of US$ 21,000. In the analysis of the Transfero Research team, if this predominant force remains active, bitcoin may reach the US$ 27,000 zone on this horizon.
In the medium/long-term view, it is possible to see the nine-period moving average on the weekly chart still acting as a barrier to prices. However, if it is broken, the next resistance levels are seen in the US$ 27,000, US$ 29,000, and US$ 31,500 zones.
Despite the macro scenario not collaborating with reasonable expectations for the markets, the latest downward movement in the bitcoin price suggests a more substantial correction by buyers.