Newsletter:

GM. Crypto market prices bounce after Fed meeting on interest rates. Current Bitcoin price is $66,970. Bitcoin halted the past week’s decline with a strong bounce from the low of $60,800.

Past 24hr performance

What Just Happened

• Federal Reserve keeps interest rates and rate cut outlook steady for this year.
• World’s largest pension fund explores diversifying into Bitcoin.
• UN says half of North Korea’s foreign currency gains came from hacks and crypto attacks
• Coinbase to launch futures trading for dogecoin, litecoin and bitcoin cash.

What’s Happening Now

Bitcoin is up 8.27% in the past 24hrs at a current price of $66,970. So far this year Bitcoin is now up +58.91%

Ethereum is up 11.61% in the past 24hrs, while Solana outperformed BTC and ETH as it is up 13.72%

Bitcoin: Despite the overnight pump, Predator Thermal Vision remains bearish to neutral on higher timeframes.

Ethereum: Predator Thermal Vision is bullish on most timeframes with the exception of the Daily and 30 minute timeframes.

FOILS metrics: For both Bitcoin and Ethereum on daily timeframe, Open Interest and Long/Short Ratio are bullish while funding rates are neutral.

Near Resistance

While Bitcoin has bounced strongly from the low $60k’s area, we note that Sniper resistance is up ahead around the big number of $70,000.

Support is down at $59,750 and $51,600.

What’s Next

Long-term trend outlook:

Predator indicator on the weekly timeframe currently has a chop candle (circle above it) with an amber colour change indicating a potential change in trend.

Macro calendar key events over the next 7 days:

• Thursday 21st March: UK: BoE Interest Rate Decision.
• Friday 22nd March: US: Fed Chair Powell Speaks
• Monday 25th March: US: New Home Sales (Feb)
• Thursday 28th March: US: GDP (QoQ) (Q4)
• Thursday 28th March: US: Initial Jobless Claims

Free Trial Announcement

We have just launched a 14-day free trial of our Predator subscription package, which includes access to ongoing livestreams, Decentrader dashboards analysis, and of course the Predator indicator and toolkit.

Click here to start your free trial today.

Disclaimer: Nothing within this article should be misconstrued as financial advice. The financial techniques described herein are for educational purposes only. Any financial positions you take on the market are at your own risk and own reward. If you need financial advice or further advice in general, it is recommended that you identify a relevantly qualified individual in your Jurisdiction who can advise you accordingly.