Chart – BTC Projection (05-04-2022)

Gráfica – Proyección BTC (05-05-2022)

Attached is the 4-hour chart of BTC against USD, at a focal price of $39,600 (own elaboration at Tradingview). Today the Fed’s FOMC agreed to raise overnight interest rates by half a percentage point. While the news was discounted by the markets, in the case of cryptocurrencies it triggered a significant rally to the upside, catapulting the price of its main asset by 5%, from 2:00 p.m. yesterday (CST) to this moment. This move is of particular importance, as the monetary measure is in line to contain, at least for the time being, the soaring inflation in the world’s largest economy, which in turn implies a shift of savings to the digital market. We will keep you updated on further developments.