The critical resistance for BTC to validate its bull run.
Bitcoin is on a rise from last week and we have seen a quicky price movement that is from $19K to $27K which is absolutely in the favor of Bull. There are some good news that effected the price of Bitcoin and helped Bitcoin to reach its another high after many years.
I think the BTC price movement is positive and this will continue till the date of 22nd March which is the day of FED Interest announcement. This day will decide the direction of the Bitcoin further. But according to my research and knowledge FED rates will not be changed which is another great news.
BTC PRICE MOVEMENT EXPECTED TO REMAIN POSITIVE UNTIL FED INTEREST ANNOUNCEMENT ON 22ND MARCH
There are three possibilities for the FED interest rate announcement, one that Interest rate will be increased which has negative impact on the market. This is more likely to not happen and that is why investors are buying their coins.
If interest rate remains the same which is positive news for the market and no doubt the important resistance which is $31500 for the confirmation of bull run will be triggered. Similarly if interest rates are decreased this will boom the market.
There is more chance that Interest rate will remain either the same as previous or will be decreased. In both of this scenerio Crypto market will be charged positive and this will make sure that BTC bull run is confirmed.
Therefore, market uptrend will be confirmed if the Bitcoin show breakout over the important resistance of $31500. If not then there is still bears which are continously try to collpase the market. There are many conditions that must meet in order to confirm the bull run.
But I am pretty sure, that market looks more stronger then back days. There is more hope that Bull run is probably been started and the next target will be $31500 which is the important resistance for the year 2023.
This is one of the best time to accumulate your favorite coin before its too late. I hope you find this post useful and informative. If you do, please remember to reblog it so that it reaches as many people as possible and that they can benefit the most from it. Also, remember to upvote, which will help me financially and grow my account.
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