FOMC

Bitcoin

<p>The post <a href="https://coinpedia.org/price-analysis/bitcoin-consolidates-ahead-of-the-fomc-meeting-yet-the-btc-price-can-surge-to-45000/" rel="noopener noreferrer nofollow">Bitcoin Consolidates Ahead of the FOMC Meeting: Yet the BTC Price Can Surge to $45,000</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>The crypto markets are facing significant bearish heat as the prices of the majority of the tokens undergo a notable pullback. The Bitcoin price is trying hard to hold above the interim support of $40,000, which indicates the bulls are holding certain dominance over the rally. The price is still up by over 10% in December, and it is working on its 4th consecutive green month, which would make the 9th green month in 2023.&nbsp;</p>
<p>The current trade set-up suggests the price could trigger a rebound from the current consolidation as the traders continue to remain optimistic regardless of the prevailing bearish action. According to the on-chain data shared by an analyst, Income Sharks, the on-balance volume (OBV) daily is breaking on Binance.&nbsp;</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> – OBV daily breaking on Binance. At support on Coinbase. People still optimistic about dip buying and people still mad at those posting anything that isn't up only. Waiting for a shift in sentiment before I consider buying back. <a href="https://t.co/x2s9TV4sM4" rel="noopener noreferrer nofollow">pic.twitter.com/x2s9TV4sM4</a></p>— IncomeSharks (@IncomeSharks) <a href="https://twitter.com/IncomeSharks/status/1734700630403686503?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 12, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>The on-balance volume, or OBV, is a technical indicator that is used to determine the price movements depending on the volume flow. The negative or dropping OBV suggests a drop in volume pressure, indicating the value of the asset is prime to decline further. This could be when the investors jump in as they are waiting to buy back the token at the dip.</p>
<p>Collectively, the Bitcoin (BTC) price continues to remain under bullish influence, regardless of the current price action. The markets appear to be waiting for confirmation of a bullish reversal that may begin a fresh bullish wave soon. With this, the Bitcoin price may resume its uptrend and reach levels beyond $45,000 soon.</p>

Bitcoin Consolidates Ahead of the FOMC Meeting: Yet the BTC Price Can Surge to $45,000

CoinPedia News

Other articles published on Dec 13, 2023

Solana hits $70 as GFOX presale roars past $900k

DWS, Flow Traders & Galaxy Digital Join Forces to Launch AllUnity

3AC’s Su Zhu Faces the Singaporean Court Over the Firm’s Assets

OKX DEX Contract Has Been Exploited: Users To Lose Over $400K

Galaxy Collaborates With DWS and Flow To Launch Stablecoin On Ethereum, Solana

Meta Platforms Embroiled in Copyright Lawsuit Over AI Training Practices

Join our free newsletter for daily crypto updates!