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Bitcoin: Key Levels and Ideas to Monitor Following Wednesday’s FOMC Volatility
Bitcoin has been mostly sideways since Friday as traders hold their breath for Wednesday’s Fed rate decision and press conference. Last week, I wrote about the $28,000-$29,000 BTC resistance area. It coincides with the $1.18T range resistance on TOTAL, which I discussed on Friday. Since the weekend, Bitcoin has carved a 1-hour ascending channel with support near $27,600 and a confluence of resistance at $28,900. The $29,000 area dates back to early 2021 as resistance and later supported BTC until June 2022. Although the pattern above could trigger a move this week, the bigger opportunity will materialize with the ... (full story)
