Bitcoin market bubbles below $500 after Fed rate hike

After the federal reserve fund rate was raised by 25 basis points as expected, Bitcoin traded sideways below $500.

Bitcoin Price Analysis
BTCC 1-hour market analysis

Now that the interest rate “unlock” is a fait accompli, a new economic era has begun. It remains to be seen how long the Fed’s policy is expected to last. In the meantime, a rebound in the dollar is inevitable, and Bitcoin seems to be following the dollar higher.

The Bitcoin price chart is bullish across all time frames, with the 15-minute chart (above) showing that Bitcoin is consolidating towards its 200-period moving average, and the MACD indicator (top indicator) is approaching the zero line within a shrinking Bollinger Band.

Chart conditions suggest a possible breakout in the coming days.

With the release of the Fed's statement, yesterday's dive gap was quickly filled and the price pattern looks more like a new round of gains.

This pattern of diving, consolidating, and then rising has occurred many times in 2015, and each time the price has risen by a larger margin.

summary

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Bitfinex order book depth chart and buy/sell volume indicator: