Quick technical analysis:
• Resistance: Bitcoin faces strong resistance at the 100,000 dollar level, which is an important psychological barrier.
• Support: In the event of a correction, Bitcoin is expected to find support at levels of 92,000 dollars and 85,000 dollars.
• Technical indicators: Some indicators suggest bullish momentum, but a decline in trading volume may signal potential volatility.
Nearby support: around 92,800 dollars – a level previously tested and may be retested if the pressure continues.
Overall trend: There is a symmetrical triangle showing convergence in price movement, indicating the potential for an imminent price explosion (either upwards or downwards).
Relative Strength Index (RSI): At low levels (35-45), indicating that the price is approaching the oversold area.
Volume: A noticeable decline in trading volume, reflecting a state of anticipation and waiting for the decision.
Linking analysis to the event:
With the Federal Reserve's decision announcement tomorrow, the market seems hesitant, and we may see a clear break of this technical pattern.
• If the decision is negative for the market (tightening), we may see a drop towards 92,000 or even lower.
• If the decision is positive (hint at easing), we may witness a bullish breakout at the 95,000 level and perhaps test 97,895 again.