A Look At Bitcoin, Ethereum And Dogecoin Heading Into The Weekend, Ahead Of Fed Rate Decision
Portfolio Pulse from Melanie Schaffer
Bitcoin, Ethereum, and Dogecoin are trading relatively flat ahead of the Federal Reserve's interest rate decision on June 14. The crypto sector, gold, and the general market may trade sideways into the event, with volatility expected afterward. Traders and investors will be watching the crypto sector for clues on the general market's direction next week.
June 09, 2023 | 8:17 pm
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NEUTRAL IMPACT
Bitcoin is trading in a double inside bar pattern, with a bearish lean due to the downtrend. A break up from the mother bars could negate the downtrend and signal an uptrend.
Bitcoin's trading pattern is currently bearish, but a break up from the mother bars could change the trend. The upcoming Fed decision adds uncertainty to the short-term price direction.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
NEUTRAL IMPACT
Dogecoin is trading in a downtrend on the daily chart, but a break up above Friday's high-of-day over the weekend could negate the downtrend. A fall under the trend line could signal a longer-term downtrend.
Dogecoin's current downtrend could be negated by a break up above Friday's high. However, a fall under the trend line could signal a longer-term downtrend. The upcoming Fed decision adds uncertainty to the short-term price direction.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
NEUTRAL IMPACT
Ethereum is forming a triple inside bar pattern, with a bearish lean due to the downtrend. A break up from the mother bars could negate the downtrend and signal an uptrend.
Ethereum's trading pattern is currently bearish, but a break up from the mother bars could change the trend. The upcoming Fed decision adds uncertainty to the short-term price direction.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100