Fed Chairman Powell spoke after the FOMC meeting and did not say much.
Bitcoin is still coorelating with stocks, which will likely continue until Bitcoin breaks out of this descending wedge.
One good answer for why Bitcoin is volatile and trending down since November, is the US Dollar.
On Wednesday at 2 the FOMC meeting starts. At 2:30 Fed chairman Powell speaks.
IT HELD! We need to see a reversal now! Wait for it!
This has been a fast paced start to the year! Why?
The media protects central bankers, and their organizations, which each have control over different aspects of society.
Bitcoin has been in a descending wedge pattern since November 9th.
The economy has a total public debt as percent of GDP climbing as CPI inflation does the same at record shattering rates.
There are so many factors effecting Bitcoin right now, it is hard to predict where it will go next.
Bitcoin dropped from $42K to $39K and came all the way back in a few minutes
To us both technical analysis, and global macro analysis, are equally important to understand where Bitcoin is, and where it is going in the future.
Many possible scenarios abound for Bitcoin in 2022.
It was November 9th when Bitcoin last made an ATH at $69K.
Bitcoin will be the product of an inflationary and a deflationary environment in 2022.