BTCUSD Dips Post-BOJ Hike: No Swift Tightening Boosts Risk – Buy Around $87K Targeting $100K

Following the Bank of Japan's significant rate increase, BTCUSD momentum followed. The absence of greater surprises and indications of no swift tightening helped risk assets. At the moment, it trades around $88170; it reached an intraday high of $88326.

Oscillators and moving averages to forecast the trend of BTCUSD

CMP- $88138

EMA (4-hour chart)

55-EMA- $88372

200-EMA- $91753

365-EMA- $96113. The pair trades below the short-term and long-term moving averages.

Major Support - $85000. Any breach below $85000 will drag the pair down to $83000/$80000.

Major Resistance - $90000.  Any break above $90000 confirms minor bullishness, a jump to $95415/$97400/$98500/$10000.

Indicators (4-hour chart)

CCI(50)- Bearish

ADX-  Neutral

5. Investment Strategy for BTCUSD

It is good to buy on dips around $87000 with a stop loss around $84000 for target profits of $100000/$107000.