We're entering a critical phase in Bitcoin's price movement, with charts setting up for a decisive move. However, the Federal Reserve meeting and rate cut announcement tomorrow may delay any significant action.
Key Factors to Watch:
- Downtrend Line: Resistance level from early August
- Short-Term Uptrend: Bullish trend since September 1st
- Middle Bull Flag Trendline: Guiding force for Bitcoin
These converging levels form a triangle pattern, indicating a potential breakout or breakdown.
Advice:
- Stay sidelined due to unpredictability
- Avoid unnecessary volatility
- Watch levels closely
Post-Fed Decision:
- Clarity on Bitcoin's direction
- Potential breakout or breakdown from triangle pattern
- Significant movement expected
Stay patient, prepared for volatility, and keep a close eye on levels.
