Bitcoin - Review from 17.09.2024

Financial and commodity markets analytics


Bitcoin quotes continue to consolidate.

The asset market is awaiting the decision of the Federal Reserve System of the United States regarding the key rate, the publication of which is scheduled for tomorrow, September 18th. If we make assumptions taking into account the accumulation of long positions in Bitcoin by large participants, which has been extensively reported recently, as well as, the price being above the support zone, located below the $53500 mark, and considering the Federal Reserve System's plans for policy easing, the scenario of bitcoin price growth resumption appears to be most likely. Nevertheless, the possibility of a significant expansion in the range of quotation volatility cannot be ruled out, and trading decisions should be taken taking into account all possible risks, including the risks of a resumption of the quotes decrease.