Bitcoin consolidates near $30,000 as investors await Fed rate decision

- The cryptocurrency market remained in a holding pattern to close out the work week as investors await next week's policy decision from the Federal Reserve, with most analysts anticipating a 25 bps hike.

Data provided by TradingView shows that Bitcoin continues to trade near support at $30,000, where bulls and bears appear evenly matched in strength, resulting in stagnant price action.That could soon change, however, as Kitco senior analyst Jim Wyckoff warned that “bulls are fading a bit late this week,” before noting they “still have the slight overall near-term technical advantage but need to show fresh power soon to keep their chart edge.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

There is a reasonable probability the Fed will conclude its rate hikes this monthExclusive to Kitco News, technical analyst Gary Wagner provides a daily recap of what happened in the gold market, highlighting important events that captured investors' attention during the U.S. trading session. Wagner's commentary features a mix of fundamental news and technical analysis, noting important support and resistance levels.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »