📊 Bitcoin Price Update: Key Resistance Ahead – Range Likely Before FOMC
As previously discussed, Bitcoin may be entering a short-term consolidation phase. The current candlestick structure suggests that recent price action is driven by profit-taking from long positions, not aggressive selling. If bears were in control, we would have seen a deeper retracement by now — a positive sign for bulls.
Bitcoin is approaching a critical resistance zone between $110,264 and $111,782. If the price enters this range, some supply pressure is expected. However, as long as BTC holds above $107,000, the bullish market structure remains intact.
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🔍 Key Technical Observations:
Recent candles show profit-taking, not distribution
Sellers are not yet active — indicating continued bullish sentiment
Bitcoin dominance is pulling back slightly while BTC ranges — this has led to stronger moves in altcoins
If BTC dips while dominance continues to fall, it could set the stage for an early altcoin rally (altseason)
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🕰️ Macro Events on the Radar:
Key upcoming news:
U.S. CPI Data
FOMC Rate Decision – Wednesday next week
Until then, the market may remain range-bound as it awaits clarity
Recommendation: lower risk exposure, reduce position size, and stay selective with trades
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⚠️ Altcoin Strategy:
If you're already in altcoin long positions, consider partial profit-taking
Watch Bitcoin dominance closely: continued downside could fuel a broader altseason
Keep an eye on BTC’s $107K support and its reaction near $111.7K resistance
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📈 Summary:
Critical Resistance Zone: $110,264 – $111,782
Key Support: $107,000
Market Bias: Cautiously bullish
FOMC Outlook: Sideways movement likely until Wednesday
As previously discussed, Bitcoin may be entering a short-term consolidation phase. The current candlestick structure suggests that recent price action is driven by profit-taking from long positions, not aggressive selling. If bears were in control, we would have seen a deeper retracement by now — a positive sign for bulls.
Bitcoin is approaching a critical resistance zone between $110,264 and $111,782. If the price enters this range, some supply pressure is expected. However, as long as BTC holds above $107,000, the bullish market structure remains intact.
---
🔍 Key Technical Observations:
Recent candles show profit-taking, not distribution
Sellers are not yet active — indicating continued bullish sentiment
Bitcoin dominance is pulling back slightly while BTC ranges — this has led to stronger moves in altcoins
If BTC dips while dominance continues to fall, it could set the stage for an early altcoin rally (altseason)
---
🕰️ Macro Events on the Radar:
Key upcoming news:
U.S. CPI Data
FOMC Rate Decision – Wednesday next week
Until then, the market may remain range-bound as it awaits clarity
Recommendation: lower risk exposure, reduce position size, and stay selective with trades
---
⚠️ Altcoin Strategy:
If you're already in altcoin long positions, consider partial profit-taking
Watch Bitcoin dominance closely: continued downside could fuel a broader altseason
Keep an eye on BTC’s $107K support and its reaction near $111.7K resistance
---
📈 Summary:
Critical Resistance Zone: $110,264 – $111,782
Key Support: $107,000
Market Bias: Cautiously bullish
FOMC Outlook: Sideways movement likely until Wednesday
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.