BTC Currently Have Horizontal And Trendline Resistance At $4

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BTC Currently Have Horizontal And Trendline Resistance At $43200 - $43500 Area. Lets See It Able To Break This Resistance Or Get Rejected From Here. Keep An Eye On $43200 - $43500 Area👀

BTC Currently Have Horizontal And Trendline Resistance At $43200 - $43500 Area.
Lets See It Able To Break This Resistance Or Get Rejected From Here.
Keep An Eye On $43200 - $43500 Area👀

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The Federal Open Market Committee is poised to keep rates in a range of 5.25% to 5.5% at its two-day policy meeting, a two-decade high first reached in July. The rate decision and economic forecasts will be released at 2 p.m. in Washington. Chair Jerome Powell will hold a press conference 30 minutes late #fomc #AltSeason #btchalving2024 #halving

💰 Bitcoin ETFs now hold nearly $4 billion in assets According to early numbers shared by Eric Balchunas, senior ETF analyst for Bloomberg, the inflows of capital into the nine new ETFs has outpaced outflows from the Grayscale Bitcoin Trust (GBTC), which has seen the value of its assets under management fall by $2.8 billion over the six-day period. #ETFApprovalDreams #BTC

After touching the major support at 40,000, BTC is now trading near 41,800. It's hard to determine if the downtrend has ended. There's a significant resistance zone from 42,700 to 43,500, and another from 43,200 to 43,900. If these big resistances break with volume, BTC has a chance to reach the 44,000 to 44,700 zone, facing another significant resistance before heading towards 46,000 to 47,000. If the support is broken, it could lead to a drop towards 38,000, then 35,000, and finally 33,000. The market structure is currently bearish, but on a lower timeframe, it seems to be turning bullish. The price is also building liquidity below the support, which could lead to a market sweep soon. It's advisable to wait for further price development.

#Bitcoin is bouncing back from the demand zone of $40k. As I mentioned, as long as $40k holds, we are in good shape. It is important to see how the weekly close will be. For now, BTC can most likely make an attempt to breach the $44k resistance level. #BTC #MANTA #Launchpool

JUST IN: 💰 Cboe files request for acceleration with the SEC for Fidelity, VanEck, ARK 21Shares, and Franklin Templeton spot Bitcoin ETFs #etf #BTC

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