BTC price gets $36K FOMC target as Bitcoin prints 29% ‘Uptober’ gains

Source: TradingViewMonthly close increases Bitcoin bull market hopesData from Cointelegraph Markets Pro and TradingView verifies Bitcoin bulls successfully held on to upside into Nov. 1. Source: Bluntz/XStriking a comparable note, fellow social media trading character Moustache considered the TK Crossover indication for an uncommon bull market trigger.TK Crossover, which gets its name from a trading signal on the Ichimoku Cloud and involves 2 of its trendlines, Tenkan-sen and Kijun-sen, produced a once-in-a-cycle bull flag at the monthly close, he said. #Bitcoin The month-to-month close for October is only a couple of hours away.-The last 3 times $BTC has actually closed above the Conversion Line () in the TK Cross-Indicator, we have actually seen a bull run in the following months (for at least ~ 300 days).

Source: TradingViewMonthly close increases Bitcoin bull market hopesData from Cointelegraph Markets Pro and TradingView confirms Bitcoin bulls effectively held on to upside into Nov. 1. Source: Bluntz/XStriking a similar note, fellow social media trading character Moustache considered the TK Crossover indication for an unusual bull market trigger.TK Crossover, which gets its name from a trading signal on the Ichimoku Cloud and involves 2 of its trendlines, Tenkan-sen and Kijun-sen, produced a once-in-a-cycle bull flag at the month-to-month close, he said. #Bitcoin The regular monthly close for October is just a couple of hours away.-The last 3 times $BTC has actually closed above the Conversion Line () in the TK Cross-Indicator, we have seen a bull run in the following months (for at least ~ 300 days).

On a somewhat more conservative note, on-chain tracking resource Material Indicators suggested that bullish momentum, while still present, is waning compared to last month.”Still waiting on a retest of $33k, although we may not see it till after an attempt at $36k,” it informed X subscribers along with data from among its exclusive trading tools.Trader eyes $36,000 BTC price after FOMC “fakeout”Volatility, meanwhile, remains on the menu for market participants, with the weeks main macroeconomic event due later on in the day.Related: There are now almost 40M Bitcoin addresses in profit– A brand-new recordThis is available in the kind of the United States Federal Reserve announcing its rate of interest policy in the middle of a testing inflation environment. Fed Chair Jerome Powell will also talk and hold a press conference.As Cointelegraph reported, market expectations are for the Federal Open Market Committee (FOMC) to keep rates at existing, albeit raised, levels.According to the current data from CME Groups FedWatch Tool, the odds of that scenario currently lie at almost 98%. Fed target rate probabilities chart. Source: CME GroupCommenting on the prospective knock-on results for BTC rate action, popular trader Crypto Tony wanted to “more volatility and more motions as the talk starts and data is launched.””I personally anticipate a time out and no hikes, so I expect we see a $36,000 struck on this information following a phony out down first,” he included, signing up with require a tap of the $36,000 mark.This post does not consist of investment advice or suggestions. Every financial investment and trading relocation involves threat, and readers need to perform their own research study when making a choice.

Other Questions People Ask

What does the BTC price reaching a $36K FOMC target indicate for Bitcoin investors?

The BTC price hitting a $36K target suggests a significant bullish sentiment among investors, especially following the recent 29% gains in October. This level is seen as a critical resistance point, and if breached, it could lead to further upward momentum. Traders are closely monitoring the Federal Open Market Committee's announcements, as these could influence market volatility and price action.

How does the TK Crossover signal relate to BTC price movements?

The TK Crossover signal, derived from the Ichimoku Cloud trading system, indicates potential bullish trends for Bitcoin when the price closes above the Conversion Line. Historically, such occurrences have preceded substantial bull runs lasting several months. As Bitcoin has recently closed above this line, traders are optimistic about the possibility of sustained upward movement in the coming months.

What role does the FOMC meeting play in determining BTC price trends?

The FOMC meeting is pivotal for BTC price trends as it addresses interest rate policies that can significantly impact market sentiment. With expectations leaning towards maintaining current rates, traders anticipate that this stability could support Bitcoin's upward trajectory towards the $36K target. Market participants are preparing for potential volatility around the announcement, which could create trading opportunities.

What are the implications of Bitcoin's 29% 'Uptober' gains for future price predictions?

Bitcoin's impressive 29% gains in October, dubbed 'Uptober,' bolster bullish predictions for its price trajectory moving forward. This performance has raised hopes for a sustained bull market, especially with technical indicators like the TK Crossover signaling potential further gains. Investors are now looking at key resistance levels, particularly around $36K, to gauge future price movements.

How should traders prepare for potential volatility following the FOMC announcement?

Traders should brace for increased volatility following the FOMC announcement, as market reactions can be unpredictable. It's advisable to set clear entry and exit points based on current market conditions and to monitor key levels like $36K closely. Utilizing stop-loss orders can help manage risk during this period of uncertainty, allowing traders to capitalize on potential price swings effectively.