Bitcoin Hits $64,047 as $64,850 Resistance Looms Ahead of Fed Meeting

Bitcoin traded at $64,047 Tuesday morning, facing significant technical resistance at $64,850. This price level aligns with both the 50-day exponential moving average (EMA) and the daily volume-weighted average price (D-VWAP), making it a crucial area for short-term price action.

The relative strength index (RSI) sits at 49.27, just below the midpoint, while the MACD histogram appears to be fading, indicating waning buying momentum. Social media analyst @stoegii described the current range as 'compressed,' with Bitcoin fluctuating between $63,750 and $64,854.

Unless Bitcoin breaks above $64,850, its short-term trajectory is likely to remain neutral. Losing support at $63,335 could bring further declines toward $62,500 and $61,250.