Breaking: Fed’s rate decision induces high volatility in Bitcoin

Bitcoin price shows initial reaction to the Fed’s interest rate decision. Day traders witnessing the move are likely to join the sudden influx of capitol targeting 22,000 and 22,614. A break above 21,800 will likely be the cartalyst to prompt the anticipated move.  

Bitcoin price at current time auctions at $21,900. Traders should be careful to not get trapped into the wrong side of the move. Liquidity hunts and shakeouts are common occurrences following major news events. A failure to promote additional bullish engulfing candlesticks above $22,100 or a retracement into $21,290 could be early evidence of a smart money trap.

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BTC/USDT 5-minute chart

In the following video, our analysts deep dive into the price action of Bitcoin, analyzing key levels of inerest in the market. -FXStreet Team

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