From TradingView · · 1m
Fed Hike Day Bitcoin Drops to $74K
Bitcoin falls below $75.4K as Fed hike risk triggers channel break.
In brief
Bitcoin falls below $75.4K as Fed hike risk triggers channel break. Bitcoin could drop to $74K if Fed signals more hikes and $75.4K breaks. Originally reported by TradingView.
Bitcoin Bleeds Inside Channel
Bitcoin is bleeding inside a statistically selected descending channel on the 1-hour chart.
Fed Hike Decision Tonight
The Federal Reserve announces its decision at 2:00 PM ET with markets pricing a ~93% chance of a 25 bps hike to 3.75%-4.00%.
Hawkish Dot Plot Risk
Higher Treasury yields drain liquidity from risk assets, and Bitcoin usually feels it first.
Support Levels at $75.4K
The active channel points sharply lower with only one level left at $75.40K.
Breakdown Scenario
If Bitcoin closes below $76.50K, the base case is continued pressure on $75.40K.
Next Target $74K
A clean loss of $75.40K after the Fed could expose the lower adaptive channel near $74.00K.
The big picture
Bitcoin could drop to $74K if Fed signals more hikes and $75.4K breaks.
