Convergence

FOMC

Bitcoin

Divergence

The post <a href="https://coinpedia.org/price-analysis/bitcoin-price-jumps-post-fomc-meeting-btc-price-to-record-new-yearly-high-soon/" rel="noopener noreferrer nofollow">Bitcoin Price Jumps Post-FOMC Meeting! BTC Price To Record New Yearly High Soon?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
The market leader, Bitcoin price, displays a decent bounce back of approximately 4% after trading in the red for three consecutive days. This further highlights a strong bullish sentiment of investors toward the BTC price.
Moreover, the crypto industry has displayed a significant upswing following the FOMC meeting, indicating a rise in investor’s interest in this alternative to the traditional financial system.
The <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" rel="noopener noreferrer nofollow">Bitcoin price</a> traded in a closed range between $37,033.37 and $36,000 for a while, following which the market lost momentum and the price experienced a correction of approximately 5%.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/c3ddQU42PO1XHmWklBAEHXsi0mGc-5TQNYhf1P7BteaqjJQv70fh6gbdT9IFKk5PRN2kkCscd_oZ-YwK4r1phCKsYB4ukmio2fJ4gPkTaCY2qHN8lcLfdmoON2jgme59Tor5Bql3ckR0G1vamFUU96M" alt="Bitcoin Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: BTC/USDT
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</figure>
The bulls held the price strong above the support level of $35,219.03, resulting in a bounce back, but the rally was short-lived as the star crypto faced rejection at $38,250. After this, the price traded in a narrow space between $36,000 and $37,033.37 for a while.
As the bulls regained momentum, the price broke out of the range. The price traded sideways for a week during this time, it experienced significant price fluctuations. After multiple attempts, the bulls regained momentum and broke out of their key resistance level at $38,250.
Bitcoin price recorded a notable run for the next few days as it gained over 17% in value, resulting in it recording a new yearly high.
The BTC price traded in a range between $43,168.23 and $44,716.58 for about a week, after which the bulls lost momentum, and the price recorded a drop of 6.8% in value. Recently, the market leader regained momentum by adding over 4% in value, indicating a high possibility of a trend reversal soon.
<h2 class="wp-block-heading" id="h-will-btc-price-hit-45-000-this-week">Will BTC Price Hit $45,000 This Week?</h2>
The Moving Average Convergence Divergence (MACD) displays a rising green histogram, indicating an increasing buying pressure for the coin in the market. Further, the averages show a bullish convergence, suggesting the price will continue gaining value in the coming days.
If the bulls hold the price above the support level of $42,019.78, the BTC price will regain momentum and prepare to test its resistance level of $43,168.23. Maintaining the price at that will set the stage for Bitcoin to attempt to test its upper resistance level of $44,716.58 this month.
Conversely, if a trend reversal occurs, the price will lose momentum and prepare to test its lower support level of $40,986.65. Moreover, if the bears continue to dominate the market, it will plunge further and prepare to test its crucial level of $40,000 in the coming days.

Bitcoin Price Jumps Post-FOMC Meeting! BTC Price To Record New Yearly High Soon?

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