Bitcoin is in a trading range, and due to the Fed meeting, many traders are reluctant to buy and sell in the area.

In my opinion, in order to enter the short and long positions, we have to wait for the price to break and stabilize.

In the 1-hour timeframe, a pattern similar to the Waikoff pattern is forming that the price should move upwards to complete the pattern, but this does not mean the end of the downtrend.

Bitcoin has a supply range of 45,000, which could increase to 50,000-53,000 if this range is broken and new news such as the China-Taiwan wars, Russia’s use of chemical and nuclear weapons, etc. are not transmitted.

But in the event of this news or an increase in interest rates by at least 0.5% bitcoin can move to the support of 29,000-30,000.

⚠️ This Analysis will be updated …
👤 Sadegh Ahmadi: @SDQ_Crypto
📅 16.Mar.22
⚠️(DYOR)

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