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Looks like the Fed Day could not discourage the bearish as the dwindling uptrend of Bitcoin is a major concern now for the bulls.
Bit price today is $0.046399 USD. Bit is down 4.47% in the last 24 hours.
Bitcoin: Analysis
Bitcoin was about to break the support of $46000 and was saved by the Fed Day news – for a while. Bitcoin is again headed to test the same support. The lower trend line of making lower lows is very likely to break below. If this happens, Bitcoin price will drift to $43800, at fib 0.786, breaking the current support of EMA 20 and 50. The resistance level we have here is at the upper trend line of lower highs at $49500, fib 0.236. Bitcoin might get very volatile as the weekend approaches.
