Attached is the 4-hour chart of BTC against USD (own elaboration in Tradingview), at a focal price of $19,297. After yesterday’s Fed news, in which a new “overnight” rate hike of 0.75 bps was given, as expected, the Bitcoin market has reacted relatively calmly, without major shocks. The chart shows us a bearish trend, in this temporality, although respecting the 19 k – 20 k zone and approaching the trend change, measured by the Parabolic Sar. Also, the relative strength and MacD indicators are slightly out of the oversold territory, pointing to this behavior. It is early to assume the same in larger hourly ranges, which will be defined mainly by the fundamental part. We will keep you updated on further developments.
Chart – BTC Projection (09-24-2022)