Bitcoin Forms a Symmetrical Triangle Pattern

BTC/USD prices have continued to move in tandem over the past few weeks even as fears of further rate hikes persist. Economists and the bond market point to a more aggressive Fed. The 10-year government bond yield rose to a multi-decade high of 4%.

Likewise, the two-year yield is comfortably above 4.2%. Therefore, these numbers point to a rate hike of at least 125 basis points this year. As such, it would be the most aggressive the Fed has done in decades.