$BTC Is Playing With Everyone Before FOMC . Don’t Get Trapped in the Middle!🚨💀.
Yesterday, BTC initially reacted from the support levels I highlighted, but the bounce remained weak. Stronger-than-expected US jobless claims, rising oil prices, a stronger dollar, inflation concerns, and geopolitical uncertainty increased pressure on risk assets.
Jobless claims came in at 187K versus 211K expected, showing that the US labor market remains strong. This led traders to believe that the Federal Reserve may not rush toward rate cuts, and BTC eventually broke below those nearby support levels.
Now Bitcoin has reached an important demand area and produced a small reclaim. If BTC can sustain above this level, it could provide a good buying opportunity, with upside targets around:
$65K $66K $67K
I have placed a spot order at 63.7k .
However, I personally do not expect BTC to break and sustain above $67K before the end of this month. The FOMC meeting is approaching, and traders usually become more cautious before such a major event. Many investors avoid taking aggressive positions in risky assets until there is more clarity from the Federal Reserve.
Therefore, the most likely scenario is that BTC continues moving inside the broader $62K–$67K range.
For now, the better approach is tp Buy near confirmed support and sell or secure profits near resistance.
Unless another unexpected geopolitical development, political statement, or major macro headline shocks the market, BTC may continue respecting support and resistance levels within this range.
$ETH can also Bounce from this level retrace Bitcoin .
Stay tuned for next Update 🚨
BitcoinHoldsNear$65400AsMagSevenLose$797B$5BBitcoinOptionsClusterAt$70KAnd$72KStrikes#FedSeptHikeOddsJumpToAbout82%
Yesterday, BTC initially reacted from the support levels I highlighted, but the bounce remained weak. Stronger-than-expected US jobless claims, rising oil prices, a stronger dollar, inflation concerns, and geopolitical uncertainty increased pressure on risk assets.
Jobless claims came in at 187K versus 211K expected, showing that the US labor market remains strong. This led traders to believe that the Federal Reserve may not rush toward rate cuts, and BTC eventually broke below those nearby support levels.
Now Bitcoin has reached an important demand area and produced a small reclaim. If BTC can sustain above this level, it could provide a good buying opportunity, with upside targets around:
$65K $66K $67K
I have placed a spot order at 63.7k .
However, I personally do not expect BTC to break and sustain above $67K before the end of this month. The FOMC meeting is approaching, and traders usually become more cautious before such a major event. Many investors avoid taking aggressive positions in risky assets until there is more clarity from the Federal Reserve.
Therefore, the most likely scenario is that BTC continues moving inside the broader $62K–$67K range.
For now, the better approach is tp Buy near confirmed support and sell or secure profits near resistance.
Unless another unexpected geopolitical development, political statement, or major macro headline shocks the market, BTC may continue respecting support and resistance levels within this range.
$ETH can also Bounce from this level retrace Bitcoin .
Stay tuned for next Update 🚨
BitcoinHoldsNear$65400AsMagSevenLose$797B$5BBitcoinOptionsClusterAt$70KAnd$72KStrikes#FedSeptHikeOddsJumpToAbout82%