Bitcoin, Ethereum Technical Analysis: Market Holds Its Breath for Fed’s Upcoming Policy Decision

Bitcoin and Ethereum Show Divergent Paths Navigating Uncertain Waters

As November 2023 unfolds, the crypto economy is abuzz with market activity, with bitcoin (BTC) demonstrating a remarkable performance and ethereum (ETH) showing steady progression. Currently, the crypto markets are calm and consolidated as market observers and traders eagerly await the news stemming from the Federal Open Market Committee (FOMC) policy announcement.

Hours before the upcoming FOMC meeting, the net value of the crypto economy is coasting along at $1.3 trillion. Investors are anxiously anticipating whether the U.S. Federal Reserve will raise the federal funds rate. However, according to the CME Fedwatch Tool, there is a 97% chance that a rate hike will not come to fruition. Although U.S. 10-year Treasury yields are lower, the long-term bonds are still at a 16-year high. Equity futures have slightly declined due to the FOMC expectations and anticipation.


Currently, bitcoin (BTC) is exchanging hands at $34,388.22 per unit. The leading crypto asset has recorded a 24-hour range between $34,174 and $34,703 per BTC. Bitcoin commands approximately $8.97 billion in global trade volume on Wednesday, and its market cap dominates by 50.9%.

Bitcoin's current state reflects a strong bullish momentum, highlighted by its significant price surge over the last two weeks. The relative strength index (RSI) at 79 and Stochastic at 75 both indicate overbought conditions, signaling the potential for a price correction or consolidation in the near term. However, the moving averages present a different perspective. With the exponential moving average (EMA) at 33,586 and simple moving average (SMA) at 34,173, both indicators suggest a bullish signal, reinforcing the prevailing upward trend.

Despite the positive price movement, caution is necessary due to the discrepancy between the oscillators and moving averages. The overbought conditions indicated by the RSI and Stochastic could lead to increased volatility, and traders should be prepared for potential short-term price fluctuations. The moving averages, while bullish, should also be considered in conjunction with the caution signals shown by the two oscillators.


Currently, ethereum (ETH) is coasting along at $1,796 per unit. ETH has witnessed a 24-hour range of $1,786 to $1,827 per ether. Ethereum's volume is higher than BTC's today, with $10.56 billion traded over the last 24 hours. In terms of market dominance, ETH's market valuation amounts to 16.4% of the $1.3 trillion crypto economy.

Ethereum presents a more balanced growth story, with a 3.9% increase in price over the past month. The oscillators, with an RSI of 67 and Stochastic of 76, do not indicate an extreme market condition, suggesting a more stable and neutral environment compared to Bitcoin. The moving averages, with an EMA of 1,771 and SMA of 1,792, provide additional support for a positive outlook, though the growth is not as pronounced as that of Bitcoin.

The steadier price movement of Ethereum, coupled with the less extreme oscillator values, positions ETH as a potentially less volatile option in the current market. However, traders should still exercise caution and consider a range of indicators and market conditions before making trading decisions. The positive trend indicated by the moving averages is a promising sign, but it is crucial to remain vigilant and stay updated with market developments.

Frequently Asked Questions

How much gold can you keep in your portfolio

The amount of capital that you require will determine how much money you can make. For a small start, $5k to $10k is a good range. You could then rent out desks and office space as your business grows. You don't need to worry about paying rent every month. You only pay one month.

You also need to consider what type of business you will run. In my case, we charge clients between $1000-2000/month, depending on what they order. You should also consider the expected income from each client when you do this type of thing.

If you are doing freelance work, you probably won't have a monthly salary like I do because the project pays freelancers. Therefore, you might only get paid one time every six months.

Decide what kind of income do you want before you calculate how much gold is needed.

I would recommend that you start with $1k-2k worth of gold and then increase your wealth.

How much are gold IRA fees?

The Individual Retirement Account (IRA), fee is $6 per monthly. This includes account maintenance and any investment costs.

To diversify your portfolio you might need to pay additional charges. The type of IRA you choose will determine the fees. Some companies offer free checking, but charge monthly fees for IRAs.

In addition, most providers charge annual management fees. These fees range from 0% to 1%. The average rate per year is.25%. These rates can often be waived if a broker, such as TD Ameritrade, is involved.

Should you open a Precious Metal IRA

The most important thing you should know before opening an IRA account is that precious metals are not covered by insurance. If you lose money in your investment, nothing can be done to recover it. This includes investments that have been damaged by fire, flooding, theft, and so on.

Investing in physical gold and silver coins is the best way to protect yourself from this type of loss. These coins have been around for thousands and represent a real asset that can never be lost. You would probably get more if you sold them today than you paid when they were first created.

Choose a reputable company with competitive rates and quality products if you are looking to open an IRA. A third-party custodian is a good option. They will protect your assets while giving you easy access whenever you need them.

Remember that you will not see any returns unless you are retired if you open an Account. Do not forget about the future!

Can I hold physical gold in my IRA?

Not just paper money or coins, gold is money. People have been using gold for thousands of years to store their wealth and protect it from economic instability and inflation. Investors today use gold to diversify their portfolios because gold is more resilient to financial turmoil.

Many Americans today prefer to invest in precious metals, such as silver and gold, over stocks and bonds. It's not guaranteed that you'll make any money investing gold, but there are several reasons it might be worthwhile to add gold to retirement funds.

Another reason is the fact that gold historically has performed better than other assets in times of financial panic. Gold prices rose nearly 100 percent between August 2011 and early 2013, while the S&P 500 fell 21 percent over the same period. Gold was one of the few assets that performed better than stocks during turbulent market conditions.

Gold is one of the few assets that has virtually no counterparty risks. Even if your stock portfolio is down, your shares are still yours. If you have gold, it will still be worth your shares even if the company in which you invested defaults on its debt.

Finally, gold provides liquidity. You can sell your gold at any time without worrying about finding a buyer, which is a major advantage over other investments. It makes sense to buy small quantities of gold, as it is more liquid than other investments. This allows one to take advantage short-term fluctuations within the gold price.

Is gold buying a good retirement option?

Buying gold as an investment may not seem very appealing at first glance, but when you consider how much people spend on average on gold per year worldwide, it becomes worth considering.

The most popular form of investing in gold is through physical bullion bars. There are many ways to invest your gold. You should research all options thoroughly before making a decision on which option you prefer.

If you don’t have the funds to invest in safe places, such as a safe deposit box or mining equipment companies, buying shares of these companies might be a better investment. If you are looking for cash flow from your investment, buying gold stocks will work well.

You can also put your money in exchange traded funds (ETFs). These funds allow you to be exposed to the price and value of gold by holding gold related securities. These ETFs typically include stocks from gold miners, precious metallics refiners, commodity trading companies, and other commodities.

What Should Your IRA Include in Precious Metals?

The most important thing you should know when investing in precious metals is that they are not just for wealthy people. You don’t need to have a lot of money to invest. There are many ways that you can make money with gold and silver investments, even if you don't have much money.

You might consider purchasing physical coins, such as bullion bars and rounds. It is possible to also purchase shares in companies that make precious metals. You might also want to use an IRA rollover program offered through your retirement plan provider.

Regardless of your choice, you'll still benefit from owning precious metals. Although they aren’t stocks, they offer the possibility for long-term gains.

Their prices are more volatile than traditional investments. So, if you decide to sell your investment down the road, you'll likely see more profit than you would with traditional investments.


  • If you accidentally make an improper transaction, the IRS will disallow it and count it as a withdrawal, so you would owe income tax on the item's value and, if you are younger than 59 ½, an additional 10% early withdrawal penalty. (
  • Indeed, several financial advisers interviewed for this article suggest you invest 5 to 15 percent of your portfolio in gold, just in case. (
  • (Basically, if your GDP grows by 2%, you need miners to dig 2% more gold out of the ground every year to keep prices steady.) (
  • You can only purchase gold bars at least 99.5% purity. (
  • If you take distributions before hitting 59.5, you'll owe a 10% penalty on the amount withdrawn. (

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How To

Tips to Invest in Gold

Investing in Gold is one of the most popular investment strategies worldwide. This is because there are many benefits if you choose to invest in gold. There are many ways you can invest in gold. Some people buy physical gold coins, while others prefer investing in gold ETFs (Exchange Traded Funds).

Before you purchase any type or gold, here are some things to think about.

  • First, find out if your country allows gold ownership. If it is, you can move on. You might also consider buying gold in foreign countries.
  • Secondly, you should know what kind of gold coin you want. You have the option of choosing yellow, white, or rose gold.
  • Thirdly, it is important to take into account the gold price. It is best to start small and work your way up. You should diversify your portfolio when buying gold. Diversify your investments in stocks, bonds or real estate.
  • You should also remember that gold prices can change often. Therefore, you have to be aware of current trends.


By: Jamie Redman
Title: Bitcoin, Ethereum Technical Analysis: Market Holds Its Breath for Fed's Upcoming Policy Decision
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Published Date: Wed, 01 Nov 2023 12:00:26 +0000

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