#BTCPrediction Let's try to guess the price of Bitcoin for today and tomorrow?
Today is an important day - in 5 hours (it is currently 16:30 for me) the Fed's decision on the interest rate will be announced. According to forecasts, it will remain at the same level.
It is assumed that the market is already aware of the forecasts and they are factored into the price. Still, the final decision to maintain the rate may cause a decline.
Important: The majority of Bitcoin holders are currently in profit - 90.35%. If the Fed's decision scares them, there will be mass profit-taking.
But what if they suddenly lower the rate? Or for example hint at a possible decrease in the future.
The market may react with a sharp rise immediately after the announcement.
Accordingly, if they hint at an increase - there will be a price drop.
These possible price swings are often short-term - with a pullback already in a couple of hours. But it all depends on the context; we are waiting for Powell's speech.
Now let's guess the reasonable price limits in case of volatility:
- The current support is at 93700. A decrease to it would be reasonable. The next lower levels: ≈83400, 74500
- The current resistance is at ≈98200
The next upper levels are 100000, 102000, and even 106000.
Your predictions, gentlemen?