$BTC

Simplified Technical Analysis BTC

It shows that Bitcoin on the daily frame is still in a clear upward trend, supported by its stability above the 7, 25, and 99-day moving averages, with their positive crossover.

Today's candle so far shows a prominent upper shadow after an attempt to break the $98,000 peak, indicating selling pressure as the US interest rate decision approaches, reflecting a state of hesitation and concern in the market.

The RSI is at 65.29, indicating good momentum but without saturation, while the MACD shows the continuation of upward strength but with a slowdown in momentum.

The price is still above the short-term support at $95,000, which now represents an important pivot point.

With the interest rate decision announcement approaching in about an hour, high volatility is expected.

If the interest rate remains steady or lower than expected, it could push Bitcoin to test $98,000 and then $100,000.

However, if it is raised, the price may return to test $93,900 or even $91,000.

In summary, the overall trend is upward, but caution is required before the interest rate decision, and it is preferable to wait for the daily close to confirm the direction.