Rate Cuts Play out cup and handle pattern

9月18日

FOMC Rate Cut:

• The Federal Reserve cut rates by 50 basis points in September 2024, aiming to boost economic activity as inflation eases.
  
  
• This cut provides increased liquidity and lowers borrowing costs, likely benefiting speculative assets.
  

Bitcoin’s Cup and Handle Pattern:

• The cup and handle pattern in Bitcoin suggests a bullish breakout with a potential target of $120,000.
  
  
• Lower interest rates increase investor demand for Bitcoin, encouraging price gains.
  
  
• The favorable monetary environment supports a move toward this target, as investors seek higher returns in alternative assets like cryptocurrencies. BTCUSD