š„ $BTC Navigates Choppy Waters: Fed Watch & Geopolitics in Play! š§
The market is currently treading cautiously as $BTC hovers around the $105,000 - $106,000 mark. Recent price action has seen a pullback from highs near $110,000-$112,000, with traders closely eyeing the ongoing FOMC meeting and geopolitical developments for the next catalyst. Despite some selling pressure, institutional interest, evidenced by ETF inflows and large purchases by firms like BlackRock, signals underlying long-term confidence. However, short-term indicators suggest weakening momentum as the price tests key support levels.
š Trading Outlook:
ā”ļø Potential Long (no leverage): A decisive reclaim and sustained hold above the $108,500 - $109,000 resistance zone could signal renewed bullish intent, potentially targeting $110,000+ again.
ā¬ ļø Short Setup (consider leverage with tight stops): If sellers push the price firmly below the critical $104,500 - $105,000 support, a deeper correction towards $100,000 could be in play.
Market participants are anticipating clues from the Federal Reserve, while also monitoring global tensions which have contributed to recent volatility.
NFA/DYOR.
#BTC #CryptoNews #FOMC
