Bitcoin, Altcoins Fall Ahead of Fed Interest Rate Decision
The outcome of today’s FOMC presser could determine Bitcoin’s next trending price move.
The outcome of today’s FOMC presser could determine Bitcoin’s next trending price move.
Analysts forecast an extended Bitcoin price rally to $120,000 if BTC secures a close above a new all-time high.
Bitcoin and altcoins bounced off their respective support levels, highlighting traders’ dedication to buying large price dips.
Bitcoin faces slight resistance near $110,500, while the rally in ETH and HYPE suggests an altcoin season is beginning.
Bitcoin and altcoins could see a parabolic rally if BTC price pushes through the $112,000 resistance.
Bitcoin bulls have held the $100,000 support but may struggle to break above the $109,588 resistance.
Ether and select altcoins are showing strength even as Bitcoin bulls attempt to maintain the price above $105,000.
Buyers are expected to fiercely defend the $100,000 support on the way down.
Bitcoin appears to be entering a consolidation phase where its lower support levels could be retested.
Bitcoin is cooling off from its strong rally from the April swing low at $74,500. Will traders buy the dips?
Bitcoin’s recovery of the $109,000 level is a sign that the uptrend for BTC and altcoins remains in play.
Data suggests Bitcoin’s mild correction will be short-lived as traders step in to buy the dip.
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