In this episode of NewsBTC’s daily technical analysis videos, we look at the volatility in Bitcoin price action following the FOMC meeting today where the Federal Reserve announced a 75 bps rate increase. Take a look at the video below: VIDEO: Bitcoin Price Analysis (BTCUSD): September 21, 2022 Bitcoin price action has been ultra volatile before and after the United States Federal Reserve announced its decision to increase rates by 75 basis points. Although the market had been considering as much as a 100 basis points increase from the increasingly hawkish Fed, the central bank ultimately chose a slightly softer touch. Fed Chair Jerome Powell expects rate increase to continue well into next year, with inflation not returning to the normal 2% rate until at least 2025. Related Reading: When Will Crypto Winter Thaw Out? Total Crypto Market Cap (TOTAL) September 20, 2022 Crypto Market Gets Volatile Before & After Fed Rate Hike Decision To demonstrate the incredibly powerful volatile proper to the announcement, Bitcoin plunged by 6% in only one minute of trading. Less than an hour later, the top cryptocurrency retraced almost the entire move, yet is now struggling to keep its head above $19,000 support. Not just Bitcoin, but anything that trades against the dollar moved in a similar manner. Bitcoin price plunged 6% in a single minute of trading action today | Source: BTCUSD on TradingView.com TD9 Buy Signal Appears O...
