$BTC

Technical Analysis of Bitcoin

Bitcoin continues to trade within a narrow range. The price has recovered from the lowest point this week at 93.7 thousand and has risen to test 97.7 thousand, which is the highest point in May. Doji candles indicate uncertainty ahead of the Federal Reserve's interest rate decision.

Buyers, supported by the Relative Strength Index above 50, indicating bullish momentum, will look for a breakout above 97.7 thousand to extend gains towards 100 thousand.

However, a bearish crossover on the MACD may encourage sellers. A rejection at 97.7 thousand could lead to a price drop towards 93 thousand and below, which is the psychological level of 90 thousand.

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