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Bitcoin (BTC) has risen nearly 4 % in the past 24 hours amid continuous volatility. Since the price is re -testing the $ 85,000 resistance, some analysts suggest that the jump be to $ 90,000, just around the corner.
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Bitcoin re -testing $ 85,000 barrier
On Wednesday, Bitcoin collapsed over the $ 85,000 resistance after an increase of more than 5 % of its lowest levels yesterday. The pioneering Crypto has not been able to restore the area between 85,000 and 86,000 dollars for the past ten days, as it struggled to obtain support of $ 84,000 during this period.
However, BTC has increased over the past 24 hours before the FOOC Open Market Committee (FOMC). As some market monitors indicated, Federal Reserve Speaker Jerome Powell’s expectations can “make or break” the last restoration of the main support levels.
CRG analyst Make up“Changing the rate (or not) in FOMC usually is not important (unless the sudden change) – as it is baked. It is anterior guidance, color, etc., and this is important. New information surrounds the end of the QT/Dot conspiracy is important to watch today.”
The Federal Reserve announced the interest rate decision, and set up the upper limit by 4.50 %. As Wu Blockchain I mentionedThe decision was in line with the expected rate and did not change from the previous decision.
Meanwhile, “DOT conspiracy indicates a reduction in the expected points of 50 in 2025. In addition, starting in April, the Federal Reserve will slow down the pace of a public budget reduction, reducing the maximum monthly cabinet of $ 25 billion to $ 5 billion while maintaining the maximum agency and MBS debt at $ 35 billion.”
Dan Tafir Trading male The BTC price can be “very interesting” with FOMC fluctuations. The news can send the pioneering encryption to restore the $ 85,000 barrier or restore its lowest levels.
According to the trader, the Bitcoin recycling map showed “a few large groups on both sides” of the weekly range. As a result, the domains are $ 81,000 and $ 85,000-86,000 dollars are from two main regions to see in continuous volatility.
BTC should carry this main area
The Federal Reserve report paid bitcoin to the highest level in 10 days at 85,880 dollars, recording 3.8 % in the daily time frame. Dan warned investors that the 84,000 dollar-8,000 dollar range is a major level of overcoming it, because BTC was not able to return to the daily 200MA/EMA group. “
The restoration of this region can restore Bitcoin to resist $ 90,000 and restore the range of collapse after the elections. On the contrary, rejection can see that BTC has reached its lowest level, which risk falling to the 73500 dollar sign.
Analyst Rick Capital male A decrease in the size of the seller during the past few days, which allowed buyers to “intervene”. According to the analyst, “buyers need to width a volume higher than the average so that there is more condemnation in this step.”
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In addition, it is High The daily relativity index of this bitcoin (RSI) has turned into a resistance level as it was in the declining direction since November 2024. For him, this level is worthy of the future because “RSI’s downside break is likely to precede the reflection of the trend to the upward trend.”
As of this writing, Bitcoin is trading $ 85,132, an increase of 4.9 % last week.
Distinctive photo of Unsplash.com, Chart from Tradingview.com
