Rate hikes are having crypto markets skittish. What're your thoughts?
The United States equities markets and the crypto markets are likely to remain volatile in the near term because traders remain nervous about the size of the next Federal Reserve rate hike on Sept. 20 and 21. While the
Many expect Bitcoin to continue its slide and drop below the June low in the future. Although anything is possible in the markets, many times, the markets do not oblige the majority. If the Fed does not surprise the markets, traders who may be cautious and sitting on the sidelines could jump right back in, resulting in a brief relief recovery.Bear markets offer an opportunity for investors to accumulate in the long term.
On the downside, the bulls are expected to aggressively defend the support at $17,622. The first sign of strength will be a break and close above $20,000. That will suggest a range-bound action for the BTC/USDT pair between $17,622 and $25,211. Conversely, if bears sink and sustain the price below $17,622, it could signal the resumption of the downtrend. The pair could then decline to $14,000.The bears have been defending the 20-week exponential moving average for the past few weeks. This suggests that the sentiment in Ether remains bearish and traders are selling on rallies.The ETH/USDT pair turned down sharply from the 20-week EMA last week and has reached the 200-week SMA . Buyers are expected to defend this level vigorously.
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