XTZ traders will stick to their screens for next 48 hours

Tezos price could take a key turn lower today after the bullish print on Wednesday. XTZ price is at the mercy of global markets which are rolling over on Thursday.

Tezos price action has witnessed some gains evaporating in late hours trading on Wednesday after the Fed minutes were released. The minutes implied some moderate rate hikes, global markets, however, tell another story with all risk-on segments of global markets on the negative side. Tezos trades at $1.85 at the time of writing versus $1.88, namely down by 1.61%

This development, namely the FOMC Minutes, triggers a big question: Is the breakout yesterday a bullish trap, or is it merely an opportunity to go long again against the supportive trend line?

Actually, the minutes do not bring about any surprise as Jerome Powell has often long channeled to the markets the view of the FOMC committee on rate hikes and its path forward.

XTZ price faces a crossroads, and readers who have been tracking XTZ price action are normally well aware of what is going on and what is causing the whipsaw price action in cryptocurrencies.