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Bitcoin: What Can Happen With the Price Ahead of The FOMC Meeting
By: coindoo|2025/05/07 21:45:02
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The move comes just ahead of the highly anticipated FOMC meeting, adding a layer of macroeconomic suspense to the chart setup.In recent 4-hour candlestick chart, Bitcoin has recovered from a local low near $93,300 and is now consolidating around $96,950. The price action reveals a clear upward push from the mid-range support, with a sharp breakout above $95,700, flipping former resistance into support.The next test lies at the $97,700 resistance zone, which previously acted as a ceiling in late April. If BTC manages to break and close above that level with strong volume, we could see a surge toward the psychological $100K milestone. .dark-mode .read-more {background-color: #343a40 !important;} READ MORE: Bernstein Predicts $330 Billion Corporate Bitcoin Allocation in Next 5 Years However, Ali warns that if Bitcoin gets rejected at this resistance, a short-term pullback is likely, potentially retesting the $95,300–$94,500 range.The post Bitcoin: What Can Happen With the Price Ahead of The FOMC Meeting appeared first on Coindoo.
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