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Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds
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Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds

Bitcoin Reacts To 75 Basis Point Fed Rate Hike | BTCUSD September 21, 2022

Tony "The Bull" Severino
Tony "The Bull" Severino
1 year ago
3 mins read

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Created by industry experts and meticulously reviewed
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In this episode of NewsBTC’s daily technical analysis videos, we look at the volatility in Bitcoin price action following the FOMC meeting today where the Federal Reserve announced a 75 bps rate increase.

Take a look at the video below:

VIDEO: Bitcoin Price Analysis (BTCUSD): September 21, 2022

Bitcoin price action has been ultra volatile before and after the United States Federal Reserve announced its decision to increase rates by 75 basis points. Although the market had been considering as much as a 100 basis points increase from the increasingly hawkish Fed, the central bank ultimately chose a slightly softer touch.

Fed Chair Jerome Powell expects rate increase to continue well into next year, with inflation not returning to the normal 2% rate until at least 2025.

Related Reading

When Will Crypto Winter Thaw Out? Total Crypto Market Cap (TOTAL) September 20, 2022

1 year ago

Crypto Market Gets Volatile Before & After Fed Rate Hike Decision

To demonstrate the incredibly powerful volatile proper to the announcement, Bitcoin plunged by 6% in only one minute of trading. Less than an hour later, the top cryptocurrency retraced almost the entire move, yet is now struggling to keep its head above $19,000 support.

Not just Bitcoin, but anything that trades against the dollar moved in a similar manner.

BTCUSD_2022-09-21_14-01-34

Bitcoin price plunged 6% in a single minute of trading action today | Source: BTCUSD on TradingView.com

TD9 Buy Signal Appears On Bitcoin, But Beware Of Another Low

The Bitcoin daily is working on a TD9 buy setup. Beware of the series perfecting, which requires a lower low beyond $18,300 where bull staged a defensive move earlier this week.

BTCUSD_2022-09-21_14-05-43

A TD9 buy setup has triggered on the daily, but another low makes perfect | Source: BTCUSD on TradingView.com

Related Reading: WATCH: Bitcoin Bloody Monday Leads To Reversal Hammer | BTCUSD September 19, 2022

Tug-of-War On Weekly Timeframes Between Bears And Bulls

Bitcoin briefly pushed back into bull territory on the weekly LMACD histogram. A bullish crossover at these levels on weekly timeframes has led to a bottom being put in in the past. Cyclically, it is clear that this is a level to watch for a bullish reversal.

By the time we finished the video above, Bitcoin plunged back down to the below the $19,000 level and bears successfully uncrossed the LMACD crossover yet again. A tug of war is going on, and whoever wins will have the upper hand when it comes to momentum.

BTCUSD_2022-09-21_14-51-51

Bears continue to prevent a bullish crossover, but bulls are trying | Source: BTCUSD on TradingView.com

Learn crypto technical analysis yourself with the NewsBTC Trading Course. Click here to access the free educational program.

Follow @TonySpilotroBTC on Twitter or join the TonyTradesBTC Telegram for exclusive daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice.

Featured image from iStockPhoto, Charts from TradingView.com
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Tony "The Bull" Severino
Tony "The Bull" Severino

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Read more

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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