Bitcoin’s Price Continues To Move Sideways – $45K Resistance Is the Key for the Next Bullish Wave
It is only a matter of time and therefore of patience.
The price of Bitcoin has been stuck in a range between $38K and $40K for several days now. This weekend was rather quiet with the price of Bitcoin remaining stuck between $38.9K and $39.0K for a long time. For those who frequently watch the Bitcoin price, they may have even thought that their browser or smartphone application refresh was not working.
There was a small dip overnight in the Asian financial markets with Bitcoin hitting a low of $37.6K, but everything quickly returned to the $39K level.
Let's face it, the price of Bitcoin is bound to move sideways until the next FOMC meeting of the Fed which is scheduled for March 15-16, 2022:
Jerome Powell's announcements at the end of this meeting are highly anticipated. Likely, the interest rate hike initially expected at 0.50% will finally be only 0.25%. Also, the war between Ukraine and Russia seems to be a ready justification to announce that the tightening cycle will not start in April 2022.
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