Famous cryptocurrency analyst Michael van de Poppe shared his analysis as the FED interest rate decision approaches. Poppe, who has become famous for his accurate predictions for Bitcoin and altcoin units in the past, has two-way expectations for the BTC price, depending on the decision to be announced in the evening.
Sharing his own technical chart on his X account, van de Poppe pointed out two critical levels for BTC.
The chop continues on #Bitcoin.
Let's see what happens after FOMC.
Crucial levels to me: $26,700 and $28,000. Anything in between is simply chop.
Breaking above $28K -> interested for longs.
Breaking south of $26.7K -> buying $26K. pic.twitter.com/RB373WYHK8— Michaël van de Poppe (@CryptoMichNL) September 20, 2023
Poppe’s Bitcoin analysis.
Emphasizing that he is eagerly awaiting the Federal Reserve’s interest rate decision, the analyst pointed out the 26,700 and 28,000 levels for Bitcoin:
“I am looking forward to the FED interest rate decision. We will see what happens in the market after the FOMC meeting. If Bitcoin exceeds the $28,000 level, I will be more interested in long positions from now on. However, in the scenario where we fall below $26,700, I will buy at $26,000.”
Crypto lovers commenting under Poppe’s BTC analysis have greater expectations for the altcoin market. The crypto expert has not yet responded to these expectations.
What time is the FOMC meeting? Will Bitcoin Price Rise?
The American Central Bank, FED, will announce the interest rate decision that the markets are eagerly awaiting at 21:00. The majority of experts and institutions do not expect the 5.25-5.50% rate to change.
According to CME FedWatch data, the probability of the central bank making a pass decision is 99%. If the decision expected by the majority comes out at the end of the meeting, the markets will wait for FED Chairman Powell’s speech. If softer messages come from the FOMC meeting, Bitcoin price is likely to rise.
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