BITCOIN UPDATE đ¨
Yesterday, I highlighted the 161% fib level as a critical resistance zoneâand right on cue, weâre seeing a reaction. Hereâs whatâs next:
1. A bounce off 127%: Sitting around $103,700, this level is showing some support. However, the reaction so far is minor, so Iâll wait for confirmation through a few more 4H closes.
2. A deeper drop into the $101Kâ$98K zone: This is my Zone of Interest (ZOI). Given todayâs volatility and FOMC, expect potential wicks into these levels as liquidity shifts.
The Bigger Picture: With FOMC in focus, markets tend to derisk ahead of major announcements. My base case? A controlled dip into $101,200â$98K, followed by a strong pump if rate cuts materialize. This aligns perfectly with the traditional bullish news playbookâand the technicals agree.
Key Takeaway: If we hold the $101Kâ$98K range and pump post-FOMC, it could unlock the next leg higher for BTC and trigger renewed momentum for the broader market. For now, stay disciplinedâbid around $98K for a safer entry or $101K if youâre feeling more aggressive.
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