Bitcoin, Ethereum Technical Analysis: BTC, ETH Rebound on Wednesday, as Fed Meeting Looms – Market Updates Bitcoin News

📆 5/3/2023 3:53 PM
📰 BTCTN

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BTC, ETH rebound on Wednesday, with Fed expected to raise rates by 0.25%.

) rebounded on Wednesday, as all focus in the market turned to today’s Federal Reserve rate decision ./USD surged to an intraday high of $28,881.30 earlier in the day.

This came as after bitcoin rejected a breakout below its long-term floor at $27,600 to start the week.Overall, momentum has shifted marginally higher, as the 10-day moving average approached its 25-day counterpart. Should this upwards crossover occur, this could be a signal that bulls need to intensify pressure, and potentially takeIn order for this to occur, the relative strength index will first need to surge past a ceiling at the 52.00 mark.

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