#BTC closed below the 76,300 level prior to the announcement of the Fed's interest rate decision. This has raised the possibility of a continued decline.
During the decline, we will monitor support levels at 73,642, 69,777, 67,306, and 66,769.
If buying activity emerges at any of these levels, a renewed rise is expected.
The decline could potentially form the final shoulder of an inverse head-and-shoulders (H&S) pattern. If the price holds above 83,000, the pattern would be activated, and a continued rise toward upper resistance levels would be anticipated.
If a daily or weekly close occurs above 82,885, it would mark the first higher peak relative to the most recent downward wave. This would provide a further signal that the upward trend is likely to continue, after which upper resistance levels can be monitored.
During the decline, we will monitor support levels at 73,642, 69,777, 67,306, and 66,769.
If buying activity emerges at any of these levels, a renewed rise is expected.
The decline could potentially form the final shoulder of an inverse head-and-shoulders (H&S) pattern. If the price holds above 83,000, the pattern would be activated, and a continued rise toward upper resistance levels would be anticipated.
If a daily or weekly close occurs above 82,885, it would mark the first higher peak relative to the most recent downward wave. This would provide a further signal that the upward trend is likely to continue, after which upper resistance levels can be monitored.
