📊 Bitcoin Technical Breakdown!
As previously forecasted by CoinEdition, the May 6–7 FOMC meeting acted as a key macro catalyst, fueling #bitcoin ’s breakout above the crucial resistance zone of $95,860–$96,993 - the level where BTC began its last major correction on Feb 22, 2025.
📌 Current Status:
$BTC is currently hovering around $102,500, gaining momentum toward retesting its January 20, 2025 all-time high of $109,114.88, which coincided with Donald Trump's presidential inauguration.
📍 Key Resistance – R1 at $106,519:
This level marks the point where BTC was previously rejected after its ATH.
A clean breakout above $106.5K would likely signal continued bullish momentum and pave the way for new highs. However, if buying pressure weakens, a short-term consolidation could follow before the next move.
🔄 If Rejected at R1:
#BTC may revisit key support zones shown on the chart to rebuild momentum. Reclaiming and holding above the $95.8K–$96.9K breakout range is vital to maintaining a bullish structure.
🗓 Looking Ahead:
The next #FOMC meeting on June 17–18 may act as a fresh macro trigger - especially if BTC consolidates below R1 resistance heading into the summer.
