Basic Points:
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Bitcoin price compression and bollinger bands suggest an expansion range will take place soon.
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The early weaknesses in the price of this week are likely to be the result of entrepreneurs who are risking rising early on Wednesday by the FOMC and a White House update on crypto policy and bitcoin strategic reserve.
Bitcoin (Btc) continued to trade for $ 117,000 to $ 120,000 scope on Tuesday, and it looks like it has prepared for a day -to -day day near $ 118,000. Some analysts call for BTC that Retest underlying support At $ 114,000 to $ 110,000, and as technicals support such a move, Wednesday’s FOMC minutes and a long -awaited White House report on US Crypto policy and a strategic bitcoin reserve can reverse Downtrend.
The report should reveal the exact number of Bitcoin currently held by the US government, and entrepreneurs hope that President Trump will take additional steps towards the production of an official bitcoin strategic reserve.
In addition to comments from Fed, Quarterly Earnings for Meta Platform, Ford, Robinhood and Microsoft have been posted on Wednesday, including US -economic data on nonfarm payroll, buying index (PMI), GDP, GDP, consumer and service and services and services and services.
Federal reserve chair Jerome Powell is set to speak, following the Fed’s decision on interest rates. Currently, the CME Group’s Fedwatch Metric shows Fed Fund Futures Pricing on a 98% chance that the Central Bank will leave rates that do not change within 4.25% to 4.5% range. Despite the increasing pressure from President Trump to immediately cut the rates, it appears that Powell is committed to staying on the course and leaving the Fed with the option of walking or cutting rates based on economic data.
As has happened in previous trading days before the FOMC, crypto entrepreneurs appear to have cut off the risk, and most large tokens have been sold today. Data from Trdr shows the combined Bitcoin’s open interest falling to $ 49.58 billion, from $ 50.58 billion to the Wall Street Opening Bell. Long fluids in the futures market accelerated the sale, and data from coinglass shows $ 173.8 million in Longs Magin called over the past 12 hours.
Related: Bitcoin Bulls aims to chase liquidity to $ 122k, but the arrows -time Q3 can be a breakout breakout
Is the good news a breakout?
In the last three weeks, the price of Bitcoin has seen a close 45% reduction in the intraday volatility as the high -day -to -low -up -to -low -incidence is narrowed to $ 2,300 from $ 4,200 on July 14. The compression of this price, though typical for the duration of the inclusion, has the possibility of ending with a strong direction, in the case of the few minutes, in the case of a strong direction, in the case of a strong direction, in the case of a strong direction, in the case of a strong direction, in the case of a strong direction, in the case of a strong direction, in the case of a strong direction with a strong direction, in the case of the case, in the case FOMC who can align in the hope of markets and the bullish from the White House Crypo Report may be Catalyst ‘expected and perhaps the news of the White House Crypo Report can be Catalyst’ for upside down.
Bollinger bands are also close to pinched to a nearby, strengthening the compression of bitcoin price and expanding the range of brewing.
This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
