Hey guys, welcome back to my channel, Nitron. So in today's article, we will be talking about what is the next move for Bitcoin. Is it actually going into $40,000, or is it going to dump into $19,000? This video is very important, even if you are my subscriber. I know you are very least bothered about trading and cryptocurrency market, but this video is going to be very important for you whether you are a trader or you're a non-trader. You have to watch this video because the information I'll be sharing in this video is going to be really helpful for you people.
Also, let me just tell you, the information is massive. You have to understand, being in a cryptocurrency network and world, you have to know about what is going on. So first of all, let me just tell you if you are new into my channel, make sure you subscribe. You hit that red button, the subscribe button, and also as well as hit that like button. And if you have any queries regarding this video, you can comment down over here in this video. Also, let me just tell you one more important thing. You can join our Telegram group. The link is given in the description of the video. The reason is that I'll be giving the hidden airdrops and other updates regarding the cryptocurrency market, and also you can find my old video, etc., all the proofs and payment proofs from the airdrop will be available over there in that Telegram group. So you can see that Telegram group on the screen so you can join now and you can join that group right now because you'll be staying updated in my channel. So now let us now get started with today's video.
So, first of all, what I'm going to do is that I'm going to open the tradinggive.com. And as you can see over here, so I'll be opening the chart of the Bitcoin. So let me just open. This is the Ethereum chart, so I'll be shifting it to the Bitcoin chart over here. So as you can see, as per the last night report which is done by the Jeremy Pelle and the FED interest rate which was released yesterday night, the report was unexpected because everyone in the cryptocurrency network was expecting below 5%. They were expecting below 5%. It could be 4.75. It could be 4.85. But unexpectedly, the report had come, only at the 5%. It came neutral report. So what exactly is happening and why it has been actually dumped over here despite the news is not bearish news and neither it is a bullish news. So what is the reason it has been... what do you say... has been dumped over here for a small amount of time? So right now we have gained back a retracement over here, so we may find a bullish upwards over here. So let us now know why it is happening over here, what's actually going on over here.
If I go into the yesterday report over here, as you can see over here... so as I've mentioned, you can see the Federal Reserve, they have interest raised the interest rates by 25 points. And also you can see that the percentage was in the range of 4.7 to 5%, but it came out to be a 5%. So this was a neutral news. So what is the actual news which made it dump? So as you can see, there was FC meeting regarding, and there was a meeting run by Jeremy Pwl who is a chairman of Fed of the US, report. So what he has actually told over here is that he is actually manipulating the market over here. So what exactly he has told over here is that the US economic growth will slowly increase in 2023. So this is the, what do you say, this is a bad news for Bitcoin, so that is the reason it had dumped further...
So you can see over here, this is the support over here which is done by the Bitcoin. This is a daily support, you can see the blue line which is formed over here. So the Bitcoin has been taken that support and it has been coming over here. So, if I go into the one day chart over here and I can show you how Bitcoin will not be dumping further because the people have they have exited the market already thinking that Bitcoin might dump back to $19,000, which is never going to happen right now. It might happen in the future, but right now it won't happen. I'll be telling you exactly why. So you can see over here, the line if you just ...
So this was the video I had to let you know people. So whoever is in the short trade, make sure you use a tight stop-loss because the market is going to be volatile. Because there is one more report going on today, tomorrow, that is 24 Mar. That the report is regarding the durable good orders. So, it is not going to affect the market in a high manner, but there might be some volatility. So stay safe guys. If you're in a long trade, make sure you use a stop-loss below the weekly support. So the weekly support is somewhere around the $25,000 to $26,000 you can keep over here, and if you in a short trade you can keep a stop loss somewhere around $29,500. So that is the stop loss you can keep, guys.
Q: What is the next move for Bitcoin?
A: The article discusses the potential next moves for Bitcoin, whether it will reach $40,000 or drop to $19,000.
Q: Why is it important to understand cryptocurrency trends?
A: Understanding cryptocurrency trends is crucial for staying informed about the market and making informed decisions.
Q: What was the impact of Fed interest rates on Bitcoin?
A: The article explains how the Federal Reserve's interest rate announcement affected Bitcoin's price and market movement.
Q: How does US economic growth impact Bitcoin?
A: The article discusses how statements about US economic growth negatively affected Bitcoin's price and market perception.
Q: What is the forecast for Bitcoin's price?
A: The article provides insights into Bitcoin's price forecast, including potential support levels and why a significant drop to $19,000 is unlikely in the near future.
Q: How can market speculation and price targets affect trading decisions?
A: The article advises traders to be cautious due to market volatility and upcoming reports, recommending specific stop-loss strategies for both long and short trades.
