BTC 
BTC daily candle closed bearish yesterday. Today we expect price to continue downwards into $27,000 – $25,000 region. We will be waiting for price to pull back and give us a good entry position.

ETH
ETH price bumped into resistance around $1940 region. Yesterday’s candle closed quite bearish and price broke the 50EMA. We expect price to continue downwards into $1700 region. We will be waiting for pullbacks to get good sell entry.

BNB
The recent price action of BNB has been noteworthy, with several rejections occurring around the $340 area. Yesterday’s daily candle closed bearish, the price is now testing the 50EMA. It appears that BNB may experience further downward volatility, and we expect the price to breach the support zone near the $300 area.

We will be seeking opportunities to sell opportunities into $290 zone.

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FOMC (Federal Open Market Committee) is the branch of the United States Federal Reserve that determines the course of monetary policy. Announcements from FOMC keep everyone informed about the decision of the US Federal Reserve on interest rates. This announcement is one of the most anticipated events on the economic calendar. The FOMC decides if the interest rates decrease, increase, or kept steady, which has a tremendous effect on currency values. The FOMC is made up of a Board of Governors consisting of seven members and five reserve bank presidents.

It is speculated that the interest rates will be increased by another quarter of a percentage point in May, which will bring the benchmark interest rate to 5-5.25 percent, the highest since 2006. It is also likely that this will be Fed’s last rate hike.

INTEREST RATE HIKE AND EFFECTS ON CRYPTOCURRENCIES

• Increased volatility in the cryptocurrency market: Cryptocurrencies are known for their high volatility, and an increase in interest rates aggravates this volatility. It usually will lead to a decrease in the demand for cryptocurrencies, which will mean a decline in the prices of cryptocurrencies. Vice-versa for a decrease in the interest rate.
• Increased Adoption of Cryptocurrencies as a Hedge Against Inflation: Despite the negative effects of an increase in interest rates, some investors see Bitcoin as a hedge against inflation, when interest rates rise, inflation may also rise. Hence will lead to demand for cryptocurrencies which will cause a potential price rise. The opposite is the case when there is a decrease in the interest rate.
• If the interest rate is kept stable, the market will experience little to no movement at all.

In conclusion, an increase or decrease in the interest rates can have both positive and negative effects on the cryptocurrency market, hence it is very important for investors to consider the potential risks and rewards carefully before investing in cryptocurrencies.