From TradingView · · 1m
Bitcoin Clarity Act Fails
Bitcoin market reacts as Clarity Act fails, Fed rate decision looms.
In brief
Bitcoin market reacts as Clarity Act fails, Fed rate decision looms. Bitcoin's technical analysis shows a potential bearish reversal at $66,000 if Fed signals more hikes. Originally reported by TradingView.
Bitcoin Clarity Act Fails
Bitcoin saw the Clarity Act failing again and now the market focus shifts towards today's Fed Rate Decision.
Fed Rate Decision Impact
If Warsh sets the narrative for more upcoming hikes, those news can act as a catalyst to confirm the technical bias.
Technical Bearish Pattern
Every BTC market Top since last October had a similar catalyst that confirmed the Top and kick-started the bearish reversal.
Resistance Zone
The last two Lower Highs formed a Resistance Zone at $66,000, critical for potential bearish reversal.
Support Zone Target
If the Fed confirms the 1W MA50 rejection, the fair technical target would be $66,000, a 30.38% drop to $57,200.
Market Question
Will the Fed trigger a drop today or will BTC break above its 1W MA50 to confirm a new Bull Cycle?
What matters most
Bitcoin's technical analysis shows a potential bearish reversal at $66,000 if Fed signals more hikes.
