What volatility? Bitcoin price dismisses FOMC, Mt. Gox with $26.7K dip

Continuing, fellow trader Crypto Tony repeated the importance of keeping $26,800 into the weekly close.” So my strategy was to long while we remained above $26,800 and thus far that is what we are doing,” he talked about the day.” Certainly came down a bit so up to the bulls now to end today on a bullish high.” BTC/USD annotated chart. Source: Crypto Tony/XBTC monthly close focus sharpensCovering the impetus for the post-Fed drop, trader Crypto Ed suggested that the previous tap of month-to-date highs could be trigger for suspicion.Related: Bitcoin all-time high in 2025? BTC rate idea exposes bull run launch #BTC In my recent updates, I shared my feeling that “something” was off with that recent rise to $27,5 kSpot (white) offloading here is possibly a warning … … pic.twitter.com/oabzVKuOvx— Ed_NL (@Crypto_Ed_NL) September 21, 2023

On longer timeframes, trader and expert was also conservative, maintaining his existing theory of BTC rate disadvantage to come. #BTC Bitcoin Bearish Fractal Update$ BTC #Crypto #Bitcoin https://t.co/4H3OMiDzFB pic.twitter.com/Gn3iH75DFw— Rekt Capital (@rektcapital) September 21, 2023

Source: TradingViewBitcoin: “Rangebound till proven otherwise” Data from Cointelegraph Markets Pro and TradingView revealed BTC cost strength subsiding prior to the Wall Street opening, down by around 1.5% on the day.Bitcoin had actually delivered a cool response to the Federal Reserves interest rate time out, and Chair Jerome Powells speech and press conference likewise stopped working to trigger major volatility.Contrary to the expectations of many, BTC rate action acted as if no catalysts were present at all.” Price is still in the exact same area, but at least now we do not have FOMC hanging over our heads. I expect higher costs.

Bitcoin (BTC) slipped from $27,000 on Sept. 21 as the dust settled on the latest United States macroeconomic events.BTC/ USD 1-hour chart. Source: TradingViewBitcoin: “Rangebound till proven otherwise” Data from Cointelegraph Markets Pro and TradingView showed BTC price strength subsiding prior to the Wall Street opening, down by around 1.5% on the day.Bitcoin had actually delivered a cool reaction to the Federal Reserves interest rate pause, and Chair Jerome Powells speech and press conference likewise failed to spark major volatility.Contrary to the expectations of many, BTC cost action acted as if no drivers were present at all.” Price is still in the exact same area, but at least now we do not have FOMC hanging over our heads. I expect greater prices. BTC cost idea reveals bull run launch #BTC In my current updates, I shared my feeling that “something” was off with that recent rise to $27,5 kSpot (white) unloading here is perhaps a warning … … pic.twitter.com/oabzVKuOvx— Ed_NL (@Crypto_Ed_NL) September 21, 2023

On the month-to-month chart, he included, assistance at $27,150 had actually flipped to resistance.”The BTC Monthly level of ~ 27150 was lost as support last month,” part of his commentary from the past 24 hours read. “Now $BTC is turning down from the very same level ~$27150 is serving as resistance for the time being.”BTC/USD annotated chart. Source: Rekt Capital/XThis post does not consist of investment suggestions or recommendations. Every financial investment and trading relocation involves risk, and readers need to perform their own research when deciding.

Other Questions People Ask

What volatility? Bitcoin price dismisses FOMC, Mt. Gox with $26.7K dip and its implications for traders?

The recent dip in Bitcoin's price to $26,700, despite the FOMC's interest rate pause, suggests a market that is currently rangebound. Traders like Crypto Tony emphasize the importance of maintaining support above $26,800 for bullish sentiment. This indicates that while volatility may be low, the market is still reacting to broader economic signals, and traders should remain vigilant about potential price movements.

How does the $26.7K dip reflect Bitcoin's response to the FOMC meeting?

The $26,700 dip in Bitcoin's price illustrates a muted reaction to the FOMC meeting, where many expected significant volatility. Instead, Bitcoin's price action has shown resilience, remaining in a tight range. This behavior suggests that traders are cautious and may be waiting for clearer signals before making significant moves.

What strategies should traders consider after the Bitcoin price dip to $26.7K?

After the dip to $26,700, traders should consider strategies that focus on maintaining positions above key support levels like $26,800. As Crypto Tony noted, this level is crucial for bullish momentum. Additionally, traders should monitor market sentiment closely and be prepared to adjust their strategies based on any shifts in Bitcoin's price action or broader economic indicators.

What does the current Bitcoin price trend indicate about future volatility?

The current trend of Bitcoin's price suggests that volatility may remain subdued in the near term, especially following the FOMC meeting. With Bitcoin's price hovering around $26,700 and showing little reaction to major economic news, traders might expect a continuation of this rangebound behavior. However, any break below or above key support and resistance levels could signal a shift in volatility and trading strategies.

How can traders interpret the lack of volatility in Bitcoin's recent price movements?

The lack of volatility in Bitcoin's recent price movements, particularly after the FOMC meeting, can be interpreted as market indecision. Traders like Crypto Ed have pointed out that previous highs may have created caution among market participants. This environment suggests that while immediate volatility is low, traders should remain alert for potential breakout opportunities as market conditions evolve.