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🔥 Bitcoin & Tomorrow's Interest Rate Decision: Prepare For DUMP

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All eyes are on the FED tomorrow as we will get a new interest rate decision. My expectation is that the interest rate hike will be 0.75%, which is the same expectation as the market. In yellow you can see the future and past interest rate decision moments.

Furthermore, I'm expecting Powell to take an even more dovish (bearish) tone on the markets and the inflation. As we've seen in the most recent inflation report (CPI), the FED's monetary tightening is not having the desired effects on inflation. On the contrary, inflation seems to be picking up speed again.

This bearish tone might be the catalyst that the market needs in order to break through the support area. If the reaction is bearish, look at the key $17,500 support to see whether we get another leg down or not. Keep in mind that the initial reaction to the interest rate decision might be different from the "real" reaction a day later.

As explained in my last BTC analysis, I'm still looking at the area in case we get another leg down.