Are you ready to make some smart investment decisions in the stock market? Well, get ready because the FOMC interest rate decision and press conference are just around the corner and they could have a significant impact on your investments.
At Extreme Investor Network, we understand the importance of staying informed and ahead of the curve when it comes to trading on Wall Street. That’s why we are here to provide you with unique insights and analysis that you won’t find anywhere else.
The upcoming FOMC press conference is going to be a crucial event for investors. With economists predicting that the Fed will maintain interest rates at their current levels, all eyes will be on Fed Chair Powell’s statements during the press conference. A dovish tone supporting potential rate cuts in September and December could spark a surge in buyer demand for US BTC-spot ETFs. This surge in inflows could help counterbalance potential oversupply risks from Mt. Gox and government interventions.
When it comes to technical analysis, Bitcoin (BTC) is currently showing bullish signals by hovering above the 50-day and 200-day EMAs. If BTC manages to return to $67,500, it could set the stage for a move towards the $69,000 resistance level. Breaking above this resistance level could pave the way for a potential retest of the all-time high of $73,808. However, it’s important to keep an eye on factors like Fed decisions, US BTC-spot ETF flow data, and BTC supply-related news to make informed trading decisions.
On the flip side, a break below $65,000 could give the bears an opportunity to target the 50-day EMA and the $64,000 support level. With the 14-day RSI reading at 55.50, BTC could still have some room to hit $70,000 before entering into overbought territory.
Stay ahead of the game with Extreme Investor Network and make smarter trading decisions in the dynamic world of the stock market. Trust us to provide you with the unique insights and analysis you need to succeed.