Bitcoin Drops to $109.2K Following Fed's 0.25% Rate Cut and Conclusion of QT
Bitcoin's Price Reaction: Bitcoin's price fell to $109,200 following the Federal Reserve's 25 basis point rate cut, with a notable 6% drop from its previous rally, indicating unexpected market reactions despite anticipated cuts.
Market Sentiment and Future Outlook: Traders are increasingly concerned about macroeconomic factors such as job market weakness and inflation, shifting focus to the implications of future rate cuts and broader economic conditions beyond the immediate interest rate changes.
Historical Trends and Investment Opportunities: Analysts suggest that past FOMC meetings have led to initial price drops in Bitcoin, followed by recoveries, indicating potential investment opportunities if bullish signals emerge post-announcement.
End of Quantitative Tightening: The Federal Reserve confirmed it will stop shrinking its balance sheet on December 1, marking a significant shift in monetary policy that could influence market dynamics moving forward.
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Technical Analysis for VELO
Technical Sentiment Analysis for Velo (VELO) As of , Velo (VELO) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 4 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for VELO stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, VELO is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Velo (VELO) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.000829 | 0.00203 | 0.00306 | 0.00426 | 0.00529 | 0.00649 | 0.00751 |
| Fibonacci | 0.00203 | 0.00288 | 0.00341 | 0.00426 | 0.00511 | 0.00563 | 0.00649 |
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