$BTC Update ‼️
The Monday Low reclaim scenario flagged yesterday has played out well. Once $63.5K was reclaimed on the 4H chart, it was backtested and confirmed as new support before Bitcoin pushed up towards the supply zone starting at $64.5K.
Expect resistance to continue in this area, stretching up towards $65K. Later today brings the FOMC interest rate decision along with the press conference, and that has real potential to bring volatility into the market.
Watching closely to see whether this resistance zone can be flipped, or whether we get a retest down at $64K and just below to see how price reacts there.
Trade with proper risk management.
$BTC
The Monday Low reclaim scenario flagged yesterday has played out well. Once $63.5K was reclaimed on the 4H chart, it was backtested and confirmed as new support before Bitcoin pushed up towards the supply zone starting at $64.5K.
Expect resistance to continue in this area, stretching up towards $65K. Later today brings the FOMC interest rate decision along with the press conference, and that has real potential to bring volatility into the market.
Watching closely to see whether this resistance zone can be flipped, or whether we get a retest down at $64K and just below to see how price reacts there.
Trade with proper risk management.
$BTC