Bitcoin has just made an upward spike, breaking through the

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--Bearish

Bitcoin has just made an upward spike, breaking through the short-term support at $81,700 that was mentioned at noon.

This spike has already reached the $82,000 second resistance level ahead of schedule. If you're feeling aggressive this evening, you could consider shorting near $82,000, with a stop-loss at $83,000 and downside targets of $79,000/$77,000.

If you prefer a more cautious approach, wait for the interest rate decision overnight and watch the Fed's stance and rate policy.

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Bearish

After the initial move touched the 0.382 Fibonacci level, Ethereum came under clear short-term pressure.

Long positions should at least be trimmed and protected around their entry cost. If you’re not holding out for further gains, you could also close out entirely in the $2,360–$2,370 range.

During the day session, keep an eye on Bitcoin’s resistance at $81,300 and consider positioning for a move lower. However, note that the interest rate decision is due in the early hours of the 29th. If it’s confirmed that rates will not be raised, Bitcoin could push further above $82,000. If rates are raised, it could quickly drop to test $79,000; if that level breaks, it may fall further to test support at $77,000.

So, if you’re looking to establish a position during the day session, you could consider a medium-term short around the $81,300 resistance level, with a tight stop, to take advantage of the rate decision. If the price breaks above $81,700, step aside for now and watch how it tests $82,000.

BTC-5.19%