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

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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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