Traders are looking for a market-wide rebound as the Fed confirmed at least three rate hikes and bond purchases in 2022.

Years of calls for a Bitcoin (BTC) price of $ 100,000 have been sidelined since Bitcoin (BTC) hit a new all-time high of $ 69,000, but traders haven’t completely lost their nerve, God. Currently, most analysts consider the current price zone to be the optimal accumulation zone.

Markets have been a little rougher over the past week as investors worldwide grew nervous about today’s meeting of the Federal Reserve Open Market Committee, but today confirmed that the Federal Reserve will do so given last week’s market volatility.

Data from Cointelegraph Marketplaces Pro and TradingView show that BTC price continues to trade above the $ 47,000 support level and, according to Chairman Powell, the price rose 0.55% to $ 49,000.

Here’s what market analysts expect from the current BTC price, as the Fed’s political intentions for 2022 have been clarified.

There’s a solid base of support close to $ 46,500

A more detailed analysis of recent price movements is provided by options trader and Twitter user ‘John Wick’, the sent The following chart shows the bullish and bearish reversals that have occurred over the past two weeks.

According to Wick, BTC’s recent price action has created “solid base support” represented by the yellow horizontal line at $ 46,588, structurally known as “Phase 1 base”.

Buck said

“We can also expect an increase in volatility. The next setup I’m targeting is an upcoming squeeze. This could play out like July after we draw on Phase 1 support. The next phase is the fire. “

Volatility is a given

Compared to historical price movements after the all-time high, the current volatility of the market is not a cause for concern, according to independent market analyst Rekt Capital, who tweeted that the market had similar declines in previous bull markets only to storm higher afterwards. Fear disappears.

Panic & pessimistic mood about it #BTC is extreme right now

But there is nothing hard about this -38% retracement

Over the years BTC has fallen 30-40% many times during the bull market

As a matter of fact, $ BTC -53% withdrawn in May

-38% is not extreme#Crypto #Bitcoin

– Rekt Capital (@rektcapital) December 15, 2021

The trader and Twitter user with the nickname “Crypto Ed_NL” sees an upswing in the future and he does sent The following chart outlines how the price action could develop over the next few weeks.

Crypto Ed_NL said

“Expected in the coming hours: 1 more pre-FOMC barish in the green boxes, an upswing after the FOMC, continuation of the bull cycle.”

Related: Bitcoin struggles to hold $ 47,000 as the Fed session adds to the “extreme” BTC market panic

Echoes of the BTC price action in September

One final angle was given by the crypto investor and Twitter user nicknamed “Crypto Bull God” who sent The graph below compares BTC’s current price action against its performance in September before it broke into a bull run.

The analyst said

“I’ve just stared at this for the past few days. I’m not saying this will happen, but I certainly see a resemblance now to September of this year. “

While no one can know for sure how things will play out at the end of 2021, the following tweet from the user pointed to a possible sign that BTC could end the year strong.

Whales buy from these areas and are entering the markets heavily.

Retail fear.

Good.

– Michaël van de Poppe (@CryptoMichNL) December 15, 2021

The total capitalization of the crypto market is currently $ 2.152 trillion and the dominance of Bitcoin is 41.6%.