Bitcoin Price Holds $29k Support: Is BTC Sweeping $25k Lows After FOMC?
How To Prepare Amid A Glaring Bitcoin Price Sell-Off Bitcoin price holds slightly above $29,200 with the 50-day Exponential Moving Average (EMA) (red) acting as resistance at $29,360. Although support at $29,000 is holding steadily, the technical picture is leaning heavily toward the bearish side. advertisement A sell signal from the Moving Average Convergence Divergence (MACD) implies that sellers have the upper hand and that the path with the least resistance is southbound. If losses are sustained below the immediate support, short positions in BTC may turn profitable toward $28,000 with a further drop to $25,000 becoming apparent. BTC/USD daily chart | Tradingview Most analysts anticipated declines to dominate the Bitcoin market toward the end of the week, especially with the United States Federal Open Market Committee (FOMC) deliberating on a possible interest rate hike on Wednesday. “With all the upcoming events, I wouldn’t be...