Bitcoin/USDT ๐ข ๐ด
Expect Bitcoin to trade within a range this week, with the upper bound at $60,300 and the lower bound at $59,400. A breakout from this range could signal a significant price movement.Bullish Target: $61,000
Our primary target is $61,000. We'll look for long entry opportunities when the price breaks above $60,300 or if it tests $59,500 and rebounds.
Key Resistance: $61,300
A significant liquidity zone exists at $61,300, which could act as the next resistance level after reaching $61,000.
FOMC Rate Cut Expectations
The Federal Reserve is expected to announce a rate cut on Wednesday, which is a bullish factor for the market. However, market makers could still manipulate the price.
Bearish Scenario (Less Likely)
If the price breaks below the $59,000 support level, a decline to $56,500 is possible.
Stay Tuned for Updates!
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