{"id":415563,"date":"2022-03-13T18:01:00","date_gmt":"2022-03-13T15:01:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-drifts-into-weekly-close-while-fed-rate-hike-looms-as-next-major-btc-price-trigger\/"},"modified":"2022-03-13T18:01:00","modified_gmt":"2022-03-13T15:01:00","slug":"bitcoin-drifts-into-weekly-close-while-fed-rate-hike-looms-as-next-major-btc-price-trigger","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-drifts-into-weekly-close-while-fed-rate-hike-looms-as-next-major-btc-price-trigger\/","title":{"rendered":"# Bitcoin drifts into weekly close while Fed rate hike looms as next major BTC price trigger"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3eae4f9c94c\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3eae4f9c94c\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-drifts-into-weekly-close-while-fed-rate-hike-looms-as-next-major-btc-price-trigger\/#%E2%80%9D_Bitcoin_drifts_into_weekly_close_while_Fed_rate_hike_looms_as_next_major_BTC_price_trigger_%E2%80%9C\" >&#8221; Bitcoin drifts into weekly close while Fed rate hike looms as next major BTC price trigger &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-drifts-into-weekly-close-while-fed-rate-hike-looms-as-next-major-btc-price-trigger\/#Long-awaited_Fed_action_set_to_come_this_week\" >Long-awaited Fed action set to come this week<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-drifts-into-weekly-close-while-fed-rate-hike-looms-as-next-major-btc-price-trigger\/#Major_pullback_%E2%80%9Ccannot_be_ruled_out%E2%80%9D_says_analyst\" >Major pullback &#8220;cannot be ruled out,&#8221; says analyst<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_drifts_into_weekly_close_while_Fed_rate_hike_looms_as_next_major_BTC_price_trigger_%E2%80%9C\"><\/span>&#8221; Bitcoin drifts into weekly close while Fed rate hike looms as next major BTC price trigger &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-128018ef>Bitcoin (BTC) upped the volatility into the weekly close on March 13 as markets braced for geopolitical and macro economic cues.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-03\/1a6706a3-8c4c-49f0-9951-4fb776df56db.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Long-awaited_Fed_action_set_to_come_this_week\"><\/span>Long-awaited Fed action set to come this week<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/?exchange=BINANCE\">TradingView<\/a>\u00a0followed BTC\/USD as it again came close to testing $38,000 support during Sunday.<\/p>\n<p>The pair had seen a quiet end to the week on Wall Street, the weekend proving similarly calm as the status quo both within and outside crypto continued without surprises.<\/p>\n<p>Now, attention was already focusing beyond Sunday&#8217;s close, specifically on the upcoming decision on interest rates from the United States Federal Reserve.<\/p>\n<p>Due March 16, the extent of the presumed rate hike could provide temporary volatility and even a longer-lasting trend change for risk assets, depending on its size.<\/p>\n<p>The situation between Russian and Ukraine likewise remained a major focus, amid faint signs that consensus between negotiators could be coming sooner rather than later.<\/p>\n<p>For monitoring resource Material Indicators, the Bitcoin chart showed spot price between the 50-week and 100-week moving average (WMA), prior to the Fed&#8217;s decision.<\/p>\n<p>&#8220;BTC price continues to range between the 50 &amp; 100 WMA,&#8221; it <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/MI_Algos\/status\/1503008226425647114\">summarized<\/a> to <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> followers on the day. <\/p>\n<blockquote><p>&#8220;Expecting typical volatility around the weekly close. Market is fearful about Putin and pending FED Funds Rate announcement. Both are catalysts for what ever outcomes the charts are pointing to.&#8221;<\/p><\/blockquote>\n<p>Popular trader and analyst Crypto Ed meanwhile <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Crypto_Ed_NL\/status\/1502955083927064579\">described<\/a> the weekend&#8217;s action as &#8220;slow&#8221; amid an absence of significant support or resistance retests, while fellow analyst Matthew Hyland likened Bitcoin&#8217;s behavior to &#8220;watching paint dry.&#8221;<\/p>\n<p>For stocks, however, it was a welcome rest from another week of heavy comedowns.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Global stocks have lost another $2.5tn in mkt cap this week as investors have been positioning around developments in <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Ukraine?src=hash&amp;ref_src=twsrc%5Etfw\">#Ukraine<\/a>, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/stagflation?src=hash&amp;ref_src=twsrc%5Etfw\">#stagflation<\/a> fears, a hawkish tilt from <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/ECB?src=hash&amp;ref_src=twsrc%5Etfw\">#ECB<\/a>, and ahead of next week&#8217;s FOMC meeting. Global equities now worth $107.5tn equal to 127% of global GDP. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/pFDynD1NS3\">pic.twitter.com\/pFDynD1NS3<\/a><\/p>\n<p>\u2014 Holger Zschaepitz (@Schuldensuehner) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Schuldensuehner\/status\/1502998525772279810?ref_src=twsrc%5Etfw\">March 13, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Russia&#8217;s stock market remained closed throughout the week and was likewise set to see no equities trading until at least March 18.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Major_pullback_%E2%80%9Ccannot_be_ruled_out%E2%80%9D_says_analyst\"><\/span>Major pullback &#8220;cannot be ruled out,&#8221; says analyst<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>After calls for a more substantial BTC\/USD retracement, however, advice was coming in over a potential opportunity to &#8220;buy the dip.&#8221;<\/p>\n<p><strong><em>Related:\u00a0Bitcoin threatens $38K as 3-day chart hints at March 2020 COVID-19 crash repeat<\/em><\/strong><\/p>\n<p>Bitcoin&#8217;s 200WMA and logarithmic growth curve, at just above $20,000 and $30,000, respectively, could form potential macro support levels should such an event occur, according to trading suite Decentrader.<\/p>\n<p>In its latest <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/decentrader.com\/market_updates\/surfacing_the_alpha\/\">market update<\/a> released Friday, the firm argued that the scenario &#8220;cannot be ruled out.&#8221;<\/p>\n<p>&#8220;Such a crash could take Bitcoin down towards the bottom of the logarithmic growth curve, which continues to climb and is now above $30,000 for the first time. Beyond that lies the 200WMA, which is also climbing and now at $20,500,&#8221; it read.<\/p>\n<p>Its position on the market, however, would turn &#8220;mid-term bearish.&#8221;<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-drifts-into-weekly-close-while-fed-rate-hike-looms-as-next-major-btc-price-trigger\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bitcoin drifts into weekly close while Fed rate hike looms as next major BTC price trigger &#8220; Bitcoin (BTC) upped the volatility into the weekly close on March 13 as markets braced for geopolitical and macro economic cues. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView Long-awaited Fed action set to come this week Data&#8230;<\/p>\n","protected":false},"author":1,"featured_media":415564,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDMvNzdjZTFkYjctOGQ1Yy00MjU3LWFkNmItNmJjN2Q3OWMxYmQ0LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785],"class_list":["post-415563","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/415563","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=415563"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/415563\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/415564"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=415563"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=415563"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=415563"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}