BITCOIN (BTC/USD): Bitcoin May be Breaking Out Along With the Tech Sector

 


Bitcoin may be breaking out along with the tech sector, NASDAQ (^IXIC), after Fed policymakers raised interest rates by a quarter-point on Wed, as expected. Traders shrugged off Fed Chair Powell's hawkish comments, insisting that more rate hikes are needed to keep inflation on a downward trend.

The good news is that Bitcoin's 50-day EMA is on the rise and could cross over its 200-day EMA if mega cap tech earnings, including Apple, Alphabet and Amazon, reporting after Thursday's closing bell, meet or beat Wall Street expectations.

This note contained herein is not and should not be construed as a recommendation to buy or sell. Click here to view the latest update!

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