Soon as the investors saw the decision of Fed Chair Powell, they thought everything in the crypto market would change but the trend didn’t change eventually.
The crypto market was seen throwing a head fake into the resistance of the CPI (Consumer Price Index) report. During the presser, Federal Reserve Chair Jerome Powell changed his tone completely which was quite astonishing.
The main jaw-opening event that happened at the time was when investors considered the fed hike interest rates to be at least 0.50% because those were under their budget and the expectations of most of the investors.
However, the main event was when they came to know that rates must reach 5% to –5.5%+. This would help them FED the 2% inflation target.
All this happened and the investors got shocked because their dream of a Fed policy pivot was torn harshly. This will also lead to the whole first half of 2023 being affected. On December,14 the Bitcoin and Ether were reversed.
Both the ETC and Bitcoin show the same market structure even at their lowest. As soon as the market came to know they started to check out their recent statistics and find out nothing was changed.
When In Doubt, Zoom Out
By saying that nothing changed means that there are a lot of chances that things won’t change. The expected resistance is 20-MA and there is a bulk activity of $18,000- $22,500. If we talk about past experiences a similar case was seen in May 2021-July 2021.
However, there is no comparison between the two situations as they are entirely different. The divergence has MACD and RSI. Both of them are trending upwards and the prices are trending downwards.
Ether is stuck with the bull flag and the confusion is uncanny because it’s seeing breakouts and descending trendlines.
However, there are more chances of descending and if the pattern is not followed then there is a chance for a fall of $11,400. This is very low and is predicted by many analysts.
When it comes to ether it is still falling between resistance and support. $2000 is expected by many analysts. Both bitcoin and Ether are predictable on the same level. However, many don’t realize that if there would be a dip of $1000 it would be jaw-dropping and eye-opening for many investors
The price of Litecoin is updated to $85. For the time being it seems that bitcoin is going according to plan. However, all this is not a piece of financial advice but one must be careful and be on their own.
People are directed to do their research because everything works differently for everyone. The chances of risk are 1: 3 and 1:5 hence one must go after them.
The short-term FUD and newsletter should be ignored. Remember to think about the risks it would take and weigh ROIs are also important. Taking profit and cutting losses are the ones everyone should think about before investing.