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Bitcoin, gold and silver posted a surprising surge in strength on Tuesday, on the eve of what appears to be another interest rate hike from the Federal Reserve.
The leading cryptocurrency, as well as the safe havens of commodities gold and silver, faced volatility around the Federal Reserve’s interest rate decision, even as the price of
The most important price targets for Bitcoin, gold and silver before the Fed cut
Follow the Fed’s interest rate decision tomorrow, and Jerome Powell’s subsequent press conference. Consider this One of the most important macroeconomic events For Bitcoin and safe commodities this week.
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CME FedWatch data showed that interest rate expectations indicate an 87.6% chance that the Federal Reserve will cut interest rates.
explain A rate cut by the Federal Reserve is usually a catalyst for Bitcoin Because it injects liquidity into the financial markets. Gold is usually the first and fastest to benefit from a rate cut, while silver often lags initially and then outperforms during strong recoveries. This is why silver tends to rally after a rate cut when momentum is rising.
- Gold prices move earlier and more predictably
- Bitcoin benefits as liquidity expands
- Silver often becomes a winner in the late momentum phase
Based on the current price action, it showed that the markets had already priced in the event, and traders were in front of a rate cut on almost certain probabilities.
Bitcoin raced towards $100,000 ahead of the Fed’s interest rate decision
The price of Bitcoin has been trading with a bullish bias, and has continued to consolidate in a parallel ascending channel from the bottom to $80,600 on November 21. As long as the price remains confined in this technical model, the chances of getting more rice.
Detect based on an indicator RSI (Relative Strength Index)about the growing momentum, which could push BTC higher. Its position above the 50 limit showed strong buying momentum, but much is still out of balance, as this intermediate level is also vulnerable to bearish control.
The price of Bitcoin faces immediate resistance through the 50-day Exponential Moving Average (EMA) at $97,015, which is an obstacle in BTC’s path towards the most important Fibonacci retracement level, 61.8%, at $98,018.
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This is a key entry point for late traders, because if the price of Bitcoin breaks this level strongly and with a high trading volume, it will indicate a stronger trend. Such a directional bias pushes the cryptocurrency higher towards $103,399, a level that represents the middle of the range at 50%.
In a very optimistic case, BTC can reach the 38.2% Fibonacci retracement level, which indicates a strong trend.
However, if the 61.8% Fibonacci retracement level holds as resistance, this will pave the way for a trend reversal.
Sellers are pushing at current levels to make the 78.6% Fibonacci retracement level lose its solidity as a support, a move that could push BTC out of the ascending parallel channel.
Such a directional bias could lead to the price of the main cryptocurrency falling towards the support level at $80,600. This move represents a drop of about 15% from current levels.
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Gold can be in Phase A in a classic recharge area
The price of gold may sell towards the lows at $4,199 and maybe break the support of the rising trend line before reversing the trend to the upside. Based on the Relative Strength Index (RSI), the momentum has declined, putting the XAU price at risk of a correction.
However, with the RSI remaining above the 50 level and the strong support coming from the convergence of the 50- and 100-day EMAs at $4,202 and $4,203 respectively, the price may be able to continue to rally.
The main support is in the range between $4,178 and $4,192. If this zone holds, the bullish structure will remain in place.
Meanwhile, the main resistance is at $4,241, with an expected acceleration if this level of accumulation of sell orders is broken.
In such a directional bias, the targets are at $4,260, or in a very optimistic scenario at $4,300 before a possible recovery of the historical high at $4,381.
Consider the current price levels a traditional recharge zone, with every drop as a buying opportunity for the late bulls.
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Silver is 6x the S&P 500 since the beginning of the year
The price of silver is witnessing one of the strongest waves in history BagIt has risen more than six times the earnings of the S&P 500 since the beginning of the year. The XAG/USD price is now on track for its biggest 12-month gain since 1979.
After registering a new historical high at $60,794, the price of silver is at price discovery levels, with the potential for more upside.
The 15-minute XAG/USD price chart below shows a clear breakout to continue the uptrend. Silver price clearly broke above the previous range near $ 58 83 and accelerated towards price discovery, confirming the transition from consolidation to the expansion phase.
All major EMAs (50/100/200) are now stacked higher and trending higher, indicating strength and strength in the short-term trend alignment.
Momentum supports this move, as shown by the RSI above 73, which indicates strong buying pressure. However, this RSI level also warns that it may be overextended in the near term and that there is a risk of a superficial pullback or consolidation before continuing.
Structurally, the resistance before $58 80 to $59 00 is now the first support area, while the next psychological and technical target is around $61 00–$61 50.
As long as the price of silver remains above the bullish 50 EMA (red), it will continue to maintain a buying bias on any downside, and the risk of downside increases only if the price sustainably breaks below $59 00.
