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Bitcoin Bounces Ahead of FOMC as Technicals Suggest Retracement

Guavy AI Editorial Team
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BTC OM
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Bitcoin experienced a significant rebound at $63,465.89 after South Korean equity markets hit their local low, marked by a massive wick.

This move was anticipated by Michaël van de Poppe, who expects both $NQ and BTC to rise ahead of the FOMC decision tonight.

Bitcoin's technical analysis suggests that its price is trading within the Bollinger Bands, with an upper resistance level at $65,665.11.

The neutral RSI reading at 50.08 combined with a MACD golden cross indicates a probable retracement towards the EMA50 support at $64,513.28 before further continuation.

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