Bitcoin is trading near $ 102,000, where FOMC is sold

Main meals:

• Bitcoin $ 10,500 decreased as traders reduced risks before tomorrow’s FOMC decision.

• Technical data indicates the bitcoin price between $ 102,000 and $ 104,000.

• Onchain data show mid -time holders who realize great profits during the past month.

The price of Bitcoin (BTC) decreased to $ 10,3300 after merchants began to reduce risks before meeting the upcoming Federal Federal Market Committee (FOC) and the following interest rate decision that will be announced on Wednesday. The correction follows the closure of a declining weekly candle, which indicates the reflection of the direction, while geopolitical tensions-especially the Israeli-Iran conflict-are equivalent to a feeling of danger.

according to BitcoinIt is a Swissin -backed market complex, the decline is not only driven by micro. It corresponds to the seasonal weakness and the ONSAIN network growth, indicating a calm in demand. More than $ 434 million in BTC futures was filtered last day, focusing on the fact that the current step is largely driven, as traders choose caution instead of new exposure.

Despite this, bitcoin Coinbase Premium The index – The BTC price scale remained on the currency base and construction positively in most of June, indicating a fixed demand from American investors. However, this demand had a limited effect on the price due to a wider market warning.

The additional pressure from the profit attracting activity came between “medium cycle holders” (6-12 months), who It achieved 904 million dollars In profits on Monday, according to Glassnode. This group constituted 83 % of the total achieved gains, a noticeable transformation of long -term pregnant women or more than 12 months, who previously led profit. This shift refers to the rotation of the market dynamics, where the most interactive participants get gains during the last high levels.

However, a long -term investor behavior offers optimistic look. Bitcoin Axel Adler Junior. male The LTHS holders still refrain from spending on a large scale, a historical upstream pattern.

The MVRV Z-SCORE-which prevents BTC remains mainly of its value mainly-and the days of a positive currency destroyed (CDD) hints in achieving selective profit rather than panic. Similar settings in the previous sessions preceded the marches of 18-25 % marches within 6-8 weeks, which means the 1st price goal of $ 130,000 by the end of Q2.

Related: Bitcoin threatens $ 104,000 “rug pulling”, says Trader says a big step after it has come

Bitcoin can be less than $ 102,000, which is the reason

From a technical perspective, Bitcoin may approach a short -term bottom between 102,000 dollars and $ 104,000, as the thick liquidity pocket and historical request block intersect.

Another reason for a possible average apostasy about $ 102,000 is Bollinger Bands. As shown in the graph, a technical reaction is expected to be faster than 102,000 dollars due to the nearby medieval, or about $ 106,000 behaves as a dynamic resistance, enhanced by respecting the historical price at this level (for example, unification of early June).

Bollinger’s ranges are also pressed, indicating high imminent fluctuations, while the middle range, which is about $ 106,000, works as dynamic resistance. Successful recovery and closing more than $ 106,748 can achieve the health of the bullish bouquets about $ 112,000. On the contrary, a clean break may lead to less than $ 100,000 to nullify the setting and target $ 98,000.

Data from alphraractal It also performs $ 98,300 tires as major support as their holders remain in the short term in a profit. Break this threshold can tend the structure towards a deeper correction. As noted Alphractor:

“As long as Bitcoin remains above the STH, we can still look at the upscale market. The scenario will not change unless BTC loses a level of $ 98,000, which may lead to a deeper decline.”

Related: Watch these Bitcoin prices before the speech of the Federal Reserve Chairman Powell

This article does not contain investment advice or recommendations. Each step includes investment and risk trading, and readers must conduct their own research when making a decision.